LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces the acquisition of a logistics development in western Germany on behalf of LaSalle E-REGI via LaSalle’s regulated platform in Germany. The asset has been acquired from the German logistics subsidiary of a Cologne-headquartered online retailer, in a sale-and-leaseback transaction.

The logistics property is a high-quality new-build development, which was completed in September 2019. It has a total area of over 44,000m2. The asset is currently single-let to a logistics subsidiary on a 10-year term and will serve as the tenant’s European logistics headquarters.

The property is located in Euskirchen in the greater Cologne region of North-Rhine-Westphalia, Germany’s largest state by population. It is situated 30km from Bonn, 40km from Cologne and 70km from Aachen and is well connected to the major A1, A61 and A565 highways which form an integral part of the regional motorway network.

Uwe Rempis, Fund Manager at LaSalle Investment Management, said: “We’ve been steadily increasing LaSalle E-REGI’s exposure to the logistics sector to capitalise on the strong tailwinds provided by the continued growth of e-commerce and online retailing. With the large population of the greater Cologne region served by a relatively low and constrained supply of modern logistics properties, this investment in a state-of-the-art facility in Euskirchen will offer our investors stable long-term returns and attractive yield.”

Andreas Wesner, Head of Acquisitions for Germany at LaSalle, said: “This is a very well-located asset in an area with scarcity of available logistics space. Due to its long-term lease structure and high flexibility in regards of third-party usability, this is an excellent fit for LaSalle’s pan-European fund and highlights our ability to source high-quality assets.”

LaSalle was advised by Pinsent Masons (legal), Gleeds (technical), Colliers (commercial) and Knight Frank (valuation).

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management is pleased to announce it has been named a Best Place to Work in Money Management for 2019 by Pensions & Investments (P&I).

Jason Kern, LaSalle Americas CEO, said: “It is an honor to once again be recognized as a best place to work in our industry by P&I. This award demonstrates our emphasis on maintaining a collaborative atmosphere that ultimately benefits our clients and employees alike. We will continue to promote a culture that emphasizes performance and service for our clients, while ensuring our employees have the necessary resources for personal growth and development.”

Amy B. Resnick, P&I Editor, said: “This year’s winners stand out for their commitment to their people and the communities in which they operate. The pressures on asset managers and advisers are not going away. These firms know that their employees are the greatest assets they have to meeting those challenges, developing and maintaining a competitive advantage. Employees at these top-ranked firms most often cited, their colleagues, the firm’s culture and the benefits as the things that make it a great place to work.”

Pensions & Investments partnered with Best Companies Group, an independent research firm specializing in identifying great places to work, to conduct a two-part survey process of employers and their employees. The first portion consisted of evaluating each nominated company’s workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second portion consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies.

About Pensions & Investments

Pensions & Investments, owned by Crain Communications Inc., is the 47-year-old global news source of money management. P&I is written for executives at defined benefit and defined contribution retirement plans, endowments, foundations, and sovereign wealth funds, as well as those at investment management and other investment-related firms. Pensions & Investments provides timely and incisive coverage of events affecting the money management and retirement businesses. Visit us at www.pionline.com.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is pleased to announce the launch of the LaSalle Japan Property Fund (the “Fund”), a private open-ended core real estate fund.

The Fund invests in core properties in Japan and launched with JPY 61 billion (US$560 million) of initial equity commitments from Japanese investors along with loans extended by major Japanese financial institutions.

The initial portfolio includes six assets that have been selected based on LaSalle’s Research and Strategy framework of Demographic, Technology and Urbanization (“DTU”), for a purchase price of JPY 105 billion (US$965 million). The Fund will invest mainly in the Japanese cities of Tokyo, Osaka, Nagoya and Fukuoka in diversified assets across the office, industrial, retail and multifamily sectors. The Fund aims to grow to JPY 200 billion (US$1.8 billion) in three years and JPY 300 billion (US$2.7 billion) in five years.

The Fund will leverage the established platform of LaSalle, one of the world’s leading dedicated real estate firms, with broad experience managing diversified open-ended core funds, including similar offerings in the US, Canada and Europe. The Fund held its initial closing with commitments from Japanese investors and will target capital from international investors in the future.

Mark Gabbay, CEO, LaSalle Asia Pacific, said: “We are excited to launch our first private open-ended core fund in Asia with a sizeable initial portfolio that, given its high asset quality, potential to generate strong recurring cash flows and desirable locations, directly aligns with the vehicle’s investment parameters. Japan’s large, transparent real estate market is one we know very well, providing us with a sustainable competitive advantage as we invest into core assets. This advances some of our global and Asia Pacific regional strategies which is to target core assets with stable income generation and to offer our global investors access to a suite of products comprising a diverse range of real estate investments.”

Keith Fujii, CEO, LaSalle Japan, said: “The creation of the LaSalle Japan Property Fund following the launch of the publicly traded J-REIT in 2016- LaSalle Logiport REIT, enhances our products with core investment strategies in Japan. Along with our strength in opportunistic investments and asset development capabilities, we are strong believers in the long-term potential of the Japanese real estate market. We are an experienced team of professionals with a strong track-record of transactional execution, leasing, asset management and investment performance in the Japanese market and aim to build a high-quality portfolio of income-producing assets.”

Ryota Morioka, Fund Manager, LaSalle Japan Property Fund, said: “Strong market fundamentals across Japan, combined with transparent capital markets, depth of existing stock and high barriers-to-entry make the core real estate market a compelling strategy in the current environment. For LaSalle Japan Property Fund, we seek to leverage our existing relationships in the office, retail, industrial and multifamily sectors to create a high-quality, diversified portfolio of stabilized core assets.”

This release does not constitute an offer to sell or a solicitation of an offer to buy an interest in the Fund. A private offering of interests in the relevant Fund vehicle is being made only to certain qualified investors pursuant to the applicable confidential private placement memorandum. Within the European Economic Area (EEA), the Fund is only available to professional investors in EEA member states where marketing has been registered or authorized in accordance with local requirements. A full list of the relevant EEA member states is available from LaSalle on request.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces the appointment of Petra Blazkova as Senior Strategist within its European Research & Strategy team, with responsibility for overseeing Continental European market analysis from the London office.

Petra joins LaSalle from Real Capital Analytics, where she had worked as Senior Director, Asia-Pacific Analytics, since 2015. Prior to that she was based in Singapore as Head of Asia Pacific Capital Markets Research at CBRE, having joined the company in 2011. From 2008 to 2010 she was Head of EMEA Capital Markets Research within the Capital Markets division of JLL, the commercial real estate services firm of which LaSalle is an independent subsidiary, where she executed research to inform the direct and indirect European real estate allocations of leading institutional clients. She previously held research roles focused on the European real estate market at King Sturge (now merged with JLL) and Colliers International.

In her role, Petra will report into the Head of Research and Strategy, Europe.

Jacques Gordon, Global Head of Research & Strategy at LaSalle, says: “Petra is a great addition to our European Research & Strategy team, and we are delighted to welcome her to LaSalle. She brings extensive experience in providing detailed insight into real estate markets and investment trends to a blue-chip client base of institutional investors, fund managers and developers. LaSalle is committed to providing our clients with market-leading analysis that allows them to tailor their real estate allocations and investment strategy to their specific needs and Petra’s appointment will further enhance our proprietary research and coverage of the European market.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) announced that its flagship core real estate fund in Canada, LaSalle Canada Property Fund (“LCPF” or “the fund”) along with its Custom Accounts group representing Frankfurt-based fund-servicing company Universal-Investment on behalf of Bayerische Versorgungskammer (BVK), and two managing owners, North American Development Group and Canderel, have acquired Edmonton City Centre (ECC). The property includes the Edmonton City Centre retail component, TD Tower, Oxford Tower and Centre Point Place spanning three city blocks in downtown Edmonton’s central business district.

John McKinlay, LaSalle Canada CEO, said: “We are pleased to complete this transaction with our partners, as it represents a rare opportunity to own a landmark mixed-use asset with a strong tenant roster in the heart of Edmonton’s downtown core. This acquisition aligns well with LCPF’s objective to provide investors with immediate exposure to a diverse and mature portfolio of assets focused in Canada’s six major markets. We are pleased with the strong relative performance of the Fund and the sustained interest from multinational investment partners.”

Michael Cornelissen, Senior Vice President of Acquisitions for LaSalle Canada, added: “This transaction is emblematic of our ability to source world-class properties with industry-leading partners. We see tremendous potential in the ECC acquisition given the growth momentum of the adjacent Ice District, light rail transit connections that are supporting continued urban gentrification and population growth.”

Spanning three city blocks, ECC is situated at the epicenter of Edmonton’s financial core and is the major shopping centre downtown, with an evolving service, convenience, entertainment and food and beverage-focused offering. The retail and parking portions benefit from their Pedway connectivity and adjacency to the recent downtown Ice District development, Canada’s largest mixed-use sports and entertainment district with 180 events per year.

The Edmonton core has grown from a residential population of 10,000 in 2008 to approximately 15,000 in 2019, and is projected to have 18,000 residents by 2020. The dramatic increase in residential condominium and rental development has been driven by inbound urban migration, with 1,600 units recently completed, 1,400 residential units under construction, and an additional 3,100 units proposed in proximity to ECC.

Surrounding residential developments and recently completed office developments are driven by a strong urbanization trend in Edmonton. This trend will undoubtedly further increase the foot traffic coming to ECC beyond the traditional daytime office employee population.

About LaSalle in Canada

On an aggregate basis, LaSalle has executed more than C$6 billion in Canadian real estate since 2000, providing it with an in-depth understanding of the market. The formation of LCPF expanded LaSalle’s existing Canadian real estate product suite and investment vehicles, which include a series of closed-end commingled funds as well as separate accounts.

About LaSalle Canada Property Fund (LCPF)

LCPF is an open-ended fund targeting core properties in major markets across Canada. The Fund is targeting commitments from Canadian and global institutional investors seeking access to the Canadian real estate market through a diversified, income-oriented vehicle. Launched in 2017, the Fund aims to provide investors with immediate exposure to a diverse and mature portfolio comprised of office, industrial, mixed-use, retail and multifamily assets. Through its near-term pipeline of potential future investments, the Fund will seek to take advantage of mispriced assets as it continues to grow.

This release does not constitute an offer to sell or a solicitation of an offer to buy an interest in LCPF. A private offering of interests in the relevant Fund vehicle is being made only to certain qualified investors pursuant to the applicable confidential private placement memorandum. Within the European Economic Area (EEA), the Fund is only available to professional investors in EEA member states where marketing has been registered or authorized in accordance with local requirements. A full list of the relevant EEA member states is available from LaSalle on request.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $68 billion of assets in private and public real estate property and debt investments as of Q2 2019. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit http://www.lasalle.com, and LinkedIn.

About Bayerische Versorgungskammer (BVK)

Bayerische Versorgungskammer is the competence and service center for occupational and communal pension schemes and Germany´s largest pension scheme group under public law. As a public authority of the Bavarian Ministry of the Interior, it is the joint executive body of twelve liberal professions´ and communal pension schemes. Bayerische Versorgungskammer covers about 2.2 million insured persons in total, with contributions of € 4.4 billion and € 3.2 billion pension payments annually. It currently has € 69 billion assets under management and more than 1,200 employees. Visit https://www.versorgungskammer.de/ for more information.

About North American Development Group

Founded in 1977, North American Development Group (“NADG”) has been active in the development, acquisition, redevelopment and management of over 250 shopping centres as well as multi-family and mixed-use developments comprising well in excess of 35 million square feet. Today, NADG owns over 25 million square feet of existing retail GLA in Canada and the U.S., with an additional 3 million square feet in development or pre-development. NADG has 11 offices across North America, 6 in Canada and 5 in the United States, and a team of over 225 seasoned real estate professionals. The Company’s head office is in Toronto, Ontario with regional offices in Kelowna, Edmonton, Montreal, Ottawa and Halifax. In the U.S., NADG’s head office is in West Palm Beach, Florida with regional offices in Phoenix, Dallas, Nashville and Atlanta. For more information, please visit www.nadg.com.

About Canderel

Canderel is one of Canada’s leading real estate development and management firms with in excess of $15 billion in acquisitions, development and management projects over the past 45 years in markets across the country. This translates into more than 60 million square feet of owned, managed and developed properties in the office, industrial, mixed-use and retail sectors. Regardless of the space, our vision remains to ensure long-term investment value for our clients, partners and investors. For more information, please visit www.canderel.com.

About Universal-Investment

With fund assets of around EUR 471 billion under administration, thereof EUR 380 billion in own vehicles and around EUR 91 billion in, inter alia, insourcing, well over 1,400 mutual and special investment mandates and a workforce of around 700, Universal-Investment is the largest independent investment company in the German-speaking region. With the acquisition of UI labs in January 2019, the industry-leading IT data specialist now completes the Group’s service portfolio by adding front office and data solutions. The investment company is the central platform for independent asset management and unifies the investment know-how of portfolio managers, private banks, asset managers and investment boutiques. Founded in 1968, the Universal-Investment Group is headquartered in Frankfurt/Main and has subsidiaries, branches and holdings in Luxembourg, Poland and Austria. It is one of the pioneers of the investment industry and has meanwhile become the market leader in the areas of master-KVG and private label funds. According to the 2019 PwC ManCo Survey, Universal-Investment is the largest AIFM ManCo in Luxembourg; among the Third-Party-ManCos, Universal-Investment also ranks in first place (as of August 31, 2019). More information available at: www.universal-investment.com. 

About LaSalle Investment Management 

About LaSalle Investment

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces the sale of a warehouse and distribution facility currently leased to Hobbycraft, the UK-based arts & crafts retailer, in Burton upon Trent for a further 8 years. The asset has been acquired by Cabot Properties, for £20 million.

The Hobbycraft facility is based in the Centrum 100 Business Park and comprises a total area of c.213,000 sq ft. Built in 2006, the asset is a modern and high-quality facility that conforms with institutional-grade specifications for industrial properties. LaSalle acquired the property in 2013.

Sophie Simmonds, Fund Manager at LaSalle Investment Management, said: “We’re pleased to have realised a highly competitive return for our client on this investment, driven by both capital growth and the stable rental income generated during the asset’s six-year hold period. Investor appetite for distribution and logistics properties remains strong and we will continue to capitalise on this buoyant market to focus our industrial investment in those assets that combine prime locations, strong transport connections and attractive supply-demand dynamics.”

LaSalle was advised on the sale by Savills.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, LaSalle manages approximately $67 billion of assets in private and public real estate property and debt investments as of Q2 2019. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. For more information please visit https://www.lasalle.com, and LinkedIn.

Investing Today. For Tomorrow.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

About Cabot Properties

Formed in 1986, Cabot was founded with the vision of bringing together a collaborative team of experienced real estate professionals dedicated to creating portfolios of profitable investments through the execution of sound and disciplined strategies. The six senior principals have collectively spent 18 years together executing industrial real estate transactions in markets across the U.S. and Europe and through multiple real estate cycles. In its 30 plus year history, Cabot has invested $9.6 billion in 181 million sf of industrial real estate, of which $7.3 billion has been realized. During this time, Cabot has managed and operated over 1,390 buildings comprised of over 3,800 tenants.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has advised its pan-European fund Encore+ on an acquisition of an urban logistics warehouse on the edge of Paris. The property is single let to a blue-chip tenant.

The property is located in Gonesse, a popular and well-established logistics submarket in the north of the city of Paris. It is ideally situated on the main distribution axis between north and south France, strategically located at the crossroads between the A1 and A3 motorways and close to both Paris-Le Bourget Airport and Charles De Gaulle Airport.

Gonesse’s thriving urban logistics market hosts globally renowned occupiers such as Amazon and the logistics group GEODIS. The area is also set for development as two new metro stations of the line 17 will be built in the vicinity of the property as part of the Grand Paris project. In addition, the €3bn EuropaCity project, a major retail, residential and cultural hub, is expected to be developed on the adjacent land plot.

The property is fitted to a class A specification and offers close to 25,000m² of rental space, consisting of four storage cells, 26 docking bays and office space.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is a great asset close to Paris in one of Europe’s fastest-growing logistics markets. Thanks to the significant growth of e-commerce in France – the online share of total retail sales in France is currently growing at a double-digit rate – the demand for urban logistics continues to increase. The development of the town of Gonesse will be a constraint on the supply of further logistics capacity in the area. This indicates that the asset will experience a positive supply-demand dynamic while delivering long-term secured income in the coming years.”

Beverley Shadbolt, Country Manager for France at LaSalle Investment Management adds: “After the acquisition and development of our logistics project in Tigery announced at the beginning of the year, this is another important acquisition for Encore+ that strengthens our position in the logistics sector in France. It once again proves our ability to seize excellent opportunities in France.”

LaSalle was advised by C&C (Notary), Baker McKenzie (Lawyers), Etypo (Technical) and KPMG (Tax).

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) announced its completion of the acquisition and leasing of Logiport West Anseong located in Anseong City, South Korea. The project’s gross floor area is 14,146 pyung (approximately 503,400 sq.ft.) and the construction was completed in December 2018.

Logiport West Anseong Highlights:

• High specification logistics facility with four-storeys of storage floors and a mezzanine floor for office use.
• 64% of gross floor area is dry storage compartments, 36% was designed for temperature-controlled storage.
• Project was significantly pre-leased from tenant demand prior to construction.
• Project has multi-tenants, anchored by the largest third-party logistics service provider (by revenue) in South Korea.
• Project has truck access to each floor without circular ramps or elevators for direct loading and unloading.
• Located in western Anseong, approximately 70 minutes from Gangnam Business District and directly near expressways for connectivity throughout Gyeonggi Province.

Steve Hyung Kim, LaSalle Investment Management Senior Managing Director, Head of Acquisition & Asset Management – South Korea commented, “We are pleased with the acquisition and leasing completion of Logiport West Anseong, LaSalle’s first warehouse investment with temperature-controlled storage capabilities in South Korea. We believe the growth in e-commerce and logistics service provider sectors will continue to drive occupier demand, especially for the higher quality modern warehouses in “last mile” locations. We plan to selectively develop and acquire additional logistics facilities going-forward.”

Se Hwan Oh, LaSalle Investment Management Senior Vice President, Development & Asset Management – South Korea said, “We are excited with the acquisition of Logiport West Anseong, a four-level modern mixed-use logistics property with truck access to all floors built to a high specification. With a healthy leasing market as well as the quality and location, it was significantly pre-leased with a well-diversified sector mix. We see continued demand for cold storage space in the market, and look forward to supporting the needs of our customers.”

As of today, LaSalle manages approximately US$3.9 billion AUM in industrial assets across the Asia Pacific region.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has acquired a flexible-use warehouse fully let to the discount supermarket chain DIA. The asset, which is located near Zaragoza in Spain, has been acquired on behalf of LaSalle’s E-REGI fund for over €20 million.

DIA Logistics was completed in 2016 and has over 31,000m2 of rental space, around 200 parking spaces and more than 60 loading docks. The property is capable of supporting multi-tenant use, including over 13,000m2 of cold storage divided into six separate modules. DIA, the sole tenant, operates more than 7,000 stores internationally, making it one of Europe’s largest food sector franchises.

Zaragoza is located in one of the most attractive logistics markets in Spain, benefiting from its proximity to Madrid, Barcelona, Valencia and southern France. The city is a key freight corridor between the Mediterranean and Atlantic coasts, with transport infrastructure including Zaragoza Maritime International, the second biggest dry dock in Spain, and Zaragoza International Airport, the third largest cargo airport in Spain by volume.

Uwe Rempis, Fund Manager at LaSalle said: “This is an important acquisition for the E-REGI fund as it increases our investors’ exposure to logistics, one of our target sectors. Spain’s logistics market is particularly attractive as it has experienced strong occupier demand in recent years, largely thanks to the growth of e-ecommerce, which is deriving demand for strategically located, large logistics units than can serve the whole country. We expect this trend to continue and so are pleased that we have been able to advise on this acquisition.”

LaSalle E-REGI is an open-ended pan-European real estate fund that aims to generate stable income return from a diversified core portfolio (office, retail, logistics) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI), which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term. The Fund also includes additional screening filters such as JLL’s Global Real Estate Transparency Index and minimum market size.

LaSalle was advised by Hogan Lovells (legal); KPMG (tax) and Malcom Hollis (technology), RPEurope (Commercial)

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces that Richard Craddock has joined to the Debt & Special Situations team in Europe, headed by Amy Klein Aznar. Richard joins as Managing Director for its successful Whole Loan programme (LWLS I/II) which launched earlier this year with €600 million of initial commitments and invests in whole loans across Western Europe, with an initial focus on France, Benelux, Iberia, and Ireland.

Richard has over 12 years of experience in the European real estate finance market and joins the team from Wells Fargo where he was a Director of Commercial Real Estate, supporting investors in originating and structuring financing solutions across a wide range of asset classes and funding structures.

Amy Klein Aznar, Head of Debt & Special Situations at LaSalle, says: “Richard is a great addition and strengthens our senior Debt and Special Sits team. I am delighted that Richard is joining to focus on our successful and growing Whole Loan debt strategies. Given the growth and heightened investment activity of our Debt and Special Situations business in recent years, we have made a number of strategic hires and grown the team to over 30 people and we are well placed to capture investment opportunities across Europe.

LaSalle’s Debt & Special Situations has raised €4.5 billion to date, providing borrowers with a wide range of financing solutions by actively investing through its four complementary investment strategies: LaSalle Real Estate Debt Strategies (LREDs), LaSalle Residential Finance (LRF), LaSalle Whole Loan Strategies (LWLS) and Special Sits. LaSalle provides whole loans, mezzanine, development finance, stretched senior loans, preferred / joint venture equity across the UK and Western Europe.

The Debt Investments & Special Situations team has a strong track record of developing strategic relationships with best-in-class borrowers, and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has committed €3.6 billion of investments across 72 individual transactions.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is pleased to announce that it has arranged over €200 million of mezzanine loans to refinance three portfolios of last mile logistics and industrial assets for real estate funds advised by Blackstone. The portfolios include 264 assets located in key urban locations throughout Germany, Netherlands, France and Denmark.

The deals are part of the latest fund in the LaSalle Real Estate Debt Strategies programme, LREDS III, which raised over £800 million of commitments in 2017. Through the LREDS III fund, LaSalle’s Debt Investments and Special Situations team invests across Western Europe, lending against assets which offer compelling risk-adjusted returns across mezzanine and whole loan investment opportunities. LREDS III is ahead in terms of its deployment schedule, having committed to over £360 million of loans to date in 2019. This accelerates the fundraising for the successor fund in the series, LREDS IV, which has a target capital raise of €1 billion and is set to launch later this year.

Ali Imraan, Managing Director, Debt Investments & Special Situations at LaSalle said: “We’re delighted to provide financing to Blackstone in the build-up of their strategic European last mile logistics portfolio, Mileway. These three mezzanine loans follow on from two previous financings of the same strategy that we have done for Blackstone in 2018 in the UK, Germany and Netherlands. It also undelines our ability to underwrite large pan-European portfolios, leveraging the breadth of our European business.”

Amy Klein Aznar, Head of Debt Investments & Special Situations at LaSalle said: “We have been large and consistent providers of debt in the European Logistic space and these latest investments are a continuation of our support for Blackstone, which started with the build-up of the Logicor logistics portfolio in 2012.

Overall, we have arranged over £700 million of financings over the past several years in European Logistics for our LREDS and Whole Loan series across all major Western European countries.”

The Debt Investments & Special Situations team has a strong track record of developing strategic relationships with best-in-class borrowers, and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has committed €3.6 billion of investments across 72 individual transactions.

LaSalle’s European debt series also includes the €1 billion LaSalle Residential Finance series (LRF III) which is active in residential, student housing, hotel, and healthcare development lending, throughout Western Europe and the UK and the €600 million LaSalle Whole Loan Strategies programme, launched in December 2018, whose strategy is to originate and hold whole loans with loan-to-values ranging from 70 per cent up to c.80 per cent across various asset types, and targets financings between €25 million and €100 million plus.

Eastdil acted as Debt Advisor to Blackstone.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

Simon Marx, Investment Strategist, was interviewed by Dani Burger on Bloomberg Daybreak LIVE on Monday morning, discussing findings from the LaSalle E-REGI Index 2019 on European economic growth and the top European cities in which to invest. For 20 years, LaSalle has published its annual European Regional Economic Growth Index – or “E-REGI” – which identifies the European regions and cities with the best growth prospects. The index judges the relative strength of future occupier demand for commercial real estate and proves valuable as the basis of any real estate investment strategy.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

London tops Index for 11th time since 2000 Almost all cities in the UK improve in this year’s ranking Manchester overtakes Edinburgh to be the second-highest ranked UK city

For the third year running and the 11th time since 2000, London has retained the top spot on the European Regional Economic Growth Index (“E-REGI”), published today by LaSalle Investment Management (“LaSalle”), the global real estate investment manager. The Index recognises London’s medium-term economic growth prospects as the best in Europe and shows that despite Brexit uncertainty, the UK capital remains the continent’s leading market for future real estate occupier demand.

The E-REGI Index attaches a score to each European region based on its medium-term economic growth prospects, its level of human capital and wealth and the quality of the business environment, relative to the European average. Almost all UK cities improved in the ranking, with Manchester (33rd), Glasgow (51st) and Liverpool (58th) all rising more than 15 spots compared to other cities in Europe. This can be mainly attributed to an improved service employment outlook – for example, in Manchester strong expected employment growth in professional activities and administrative & support service activities has contributed significantly to the city overtaking Edinburgh (34th) as the second-highest ranked UK city. 

Despite many of the UK’s cities closing the gap on the capital, London also improved its relative score and even extended its lead on Paris in second place, again primarily due to a more positive service employment outlook compared to last year. The ranking is based on an assumption that the UK will exit the EU with a deal by March 2020 and remain in a customs union with the EU for an extended period. LaSalle recognises that a no-deal Brexit would negatively impact the rankings of the UK’s cities, with London most exposed.

Simon Marx, Director of Research & Strategy at LaSalle said: “Much has changed during the 20-year history of the E-REGI Index, but London has always held a spot close to the top of the Index, despite numerous economic challenges in the past two decades, from the dotcom crash to the global financial crisis. While the outcome of Brexit will clearly have a significant impact on London’s ranking, the city has showed tremendous resilience over the last two decades and remains unparalleled in Europe in terms of the scale, flexibility and diversity of its workforce and skills base.”

He added: “The E-REGI Index identifies the European regions and cities with the best economic growth prospects, which when combined with detailed real estate knowledge, supply-side information and relative pricing has proved to be a valuable tool for portfolio construction, determining real estate market outperformance and investment strategy throughout its 20 year history.”

Other highlights of LaSalle’s 2019 E-REGI Index:

• Paris sits in second position for a third consecutive year, experiencing its highest score ever. The French capital leads the LaSalle European Human Capital Index, which drives part of the E-REGI Index score.
• Dublin falls into the late cycle category, whereby certain cities have peaked in their economic cycles, and suffers from lower growth prospects over the new forecast period 2019-23. As a result, Dublin fell three places but retained its top 10 status in 9th position.
• Amsterdam continued its upward trajectory to reach 16th position, its highest rank since 2006. The large concentration of high value-added sectors adds to the city’s higher-than-average productivity, while the city’s vibrant quality of life attracts foreign talent and tech start-ups, driving competitiveness further.
• Nordic cities continue to feature in the top-end of the ranking due to strong human capital and wealth scores, with three in the top ten (Stockholm, Oslo and Copenhagen-Malmö).
• Istanbul replaces Stockholm in third place thanks to strong GDP and employment scores, and it has also seen a large improvement in its employment growth prospects and human capital.
• German cities were generally slightly weaker in the Index as a struggling industrial sector amid weak global trade and elevated uncertainty weakened the country’s economic overall outlook, with only Munich (5th) remaining in the top 10.
• Of all European cities, Bucharest, a popular IT outsourcing location, and Moscow, whose employment prospects have been boosted by pension reform, made the most progress in the ranking this year, jumping to 45th (+40) and 49th (+48) respectively.

Looking ahead, there are also factors which are not currently captured by the E-REGI Index and that are becoming increasingly important to the success and ultimately real estate performance of cities. Factors such as sustainability, urban density, liveability and wellbeing, climate change resilience and accessibility are becoming increasingly important and data availability enabling the measurement and comparability of these factors across geographies is improving. Looking ahead at the next 20 years the E-REGI Index will attempt to systematically capture features such as environmental quality including air quality, housing affordability, the quality of transport, the quality of social infrastructure, the presence of innovation industries and the widespread lack of mixed-use assets.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle is pleased to announce that its German business, LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH (KVG), has appointed Roberto Carrera to the role of Managing Director. The KVG was founded in 2010. The KVG manages €4.8 billion in AUM as of June 30th 2019.

The Board of Managing Directors of the KVG now consists of the following three Managing Directors: Roberto Carrera, Uwe Rempis and Stefan Pelkofer. These responsibilities, in turn, are divided as follows; Uwe Rempis is responsible for overseeing all matters relating to Fund Management and Investment; Stefan oversees Finance, Risk Management, Compliance and HR matters and Roberto will oversee Asset Management, Financing and Public Relations.

Roberto is the European Head of Financing, based in Munich, having been with LaSalle since 2012. Since then, he has overseen €6.7 billion of borrowing and debt arrangements for LaSalle across multiple European jurisdictions, several asset classes and investment styles. He has over 20 years of experience in corporate and commercial real estate finance across Europe, having worked in Paris, Madrid and Munich.

Jamie Lyon, the Chairman KVG Supervisory Board at LaSalle, said: “I am delighted to announce that Roberto has joined the Board of the KVG. His experience across multiple European jurisdictions will be invaluable to the business and underlines LaSalle’s commitment to its KVG business and its importance within our European platform.”

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

Long-term leased asset for the open-ended pan-European real estate fund LaSalle E-REGI KONTOR is part of the development project “Wirtschaftswunder” in central location

LaSalle has acquired the KONTOR office building in Berlin on behalf of LaSalle E-REGI. The seller is PW Real Estate Fund III, a real estate fund affiliated with Aermont Capital.

KONTOR is centrally located in Berlin-Schöneberg between Potsdamer Platz and City West and is leased on a long-term basis to the agricultural seed producer KWS. The building is part of the commercial ensemble “Im Wirtschaftswunder” by Aermont Capital in collaboration with Pecan Development. The building offers almost 10,000m² of leasable space over seven floors and two roof terraces. The KONTOR is currently undergoing fundamental renovation with completion scheduled for the end of 2019. After the renovation, all rented spaces will meet industry standards for high-quality building technology.

“Im Wirtschaftswunder” is being created as construction and revitalization project with c. 33,000 sqm leasable space at the former Commerzbank property at Potsdamer Straße. In addition to KONTOR the ensemble comprises also FORUM and the new building ZENTRALE, which shall function as the new German headquarters of Sony Music Entertainment.

The Berlin office market is the fastest developing office market in Germany. It has grown by more than 15 per cent since 2012. The demand for such properties is robust and is expected to further develop positively in the coming years. The vacancy rate has been declining for at least a decade and is currently at an all-time low of 1.4 per cent.

Uwe Rempis, Fund Manager of LaSalle E-REGI, says: “The Berlin office market is likely to remain friendly to long-term investors. Despite intensive construction and development activity, the total number of space is predicted to rise by 2 per cent in 2019 alone and we see no signs of easing. Therefore, we also expect a positive development in rental income for our investors. The property thus fits perfectly into our strategy, which focuses on investments in core locations in major European cities and capitals”.

LaSalle E-REGI is an open-ended pan-European real estate fund that aims to generate stable income return from a diversified core portfolio (office, retail, logistics) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI), which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term. The Fund also includes additional screening filters such as JLL`s Global Real Estate Transparency Index and minimum market size.

LaSalle was advised by Mayer Brown LLP (legal); Gleeds (Technical); Howden (insurance broker); Liberty (Insurance for W&I); Knight Frank (valuation) and Savills (buy-side). Aermont and Pecan were advised by Greenberg Traurig Germany LLP. BNP and Colliers have acted as transaction brokers in the process.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle has advised on the acquisition of a highly visible office building located in Hamburg`s City South, Hamburg´s second largest office submarket, located adjacent to the CBD on behalf of the Encore+ fund.

Economic Quarter is a newly-refurbished, highly visible office spread over 28,000m² and ten floors. It also comprises a showroom for Mercedes Benz. City South is currently one of the fastest developing submarkets and is emerging as a major business location, attracting a wide range of companies from the financial, consulting and IT sectors as a headquarters location. The area provides excellent public transportation and amenities. The overall quality of this important market has also profited from recent large-scale residential developments, turning City South into a more lively and attractive location.

The total office take-up in Hamburg has been strong and steadily increasing over the last decade. Hamburg’s vacancy rate has been decreasing since 2015 and is approaching a five-year low. At the end of Q2 2019, modern office space available for immediate leasing amounted to 398,000m² in Hamburg, which constituted 2.9% of the total stock.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “I am delighted that we have agreed to acquire the Economic Quarter, which fits well within Encore+’s strategy to acquire asset high quality properties in major cities in Western Europe. Hamburg is a new market for Encore+ and one of the top German office markets, providing further diversification within Germany. The high quality of the tenants provide secure income in this asset, in a location with excellent access and in addition the opportunity to capture rental uplift.”

LaSalle was advised by Mayer Brown (Legal&Tax); Drees & Sommer (Tech); Linklaters (Antitrust legislation); Howden (Insurance Broker); Liberty, Lloyds (Insurance); Colliers (Buy-side adviser); Colliers (Valuation); and CBRE (RCA Report).

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle is pleased to announce that it has arranged a whole loan, to finance Blackstone’s acquisition of Tarraco Tower, a high-quality office property in Central Barcelona, Spain.

The deal is part of the LaSalle Whole Loan Strategies programme, which had its first close in December 2018, and now stands at €600m+ of commitments. The programme’s strategy is to originate and hold whole loans with loan-to-values ranging from 70 per cent up to c.80 per cent across various asset types, and targets financings between €25 million and €100 million plus.

The LaSalle debt series also includes LREDS III, the £804m fund, which invests across Western Europe and the UK, offering mezzanine and whole loan investment opportunities, and the c.€1 billion LaSalle Residential Finance series (LRF III) which is active in residential, student housing, hotel, and healthcare development lending, throughout Western Europe and the UK.

Amy Klein Aznar, Head of Debt Investments & Special Situations at LaSalle said: “We are pleased to be able to support Blackstone again, this time with our whole loan strategy on the Continent, where we continue to see opportunities and are able to offer sponsors a full range of debt solutions. The programme closed its first financing in December 2018, and currently totals five closed investments across Europe, equating to nearly 40 per cent of capital deployed.”

Ali Imraan, Managing Director of Debt Investments & Special Situations at LaSalle said: “This transaction was closed in under a month, demonstrating our ability to execute in tight timelines and tap into our extensive pan-European real estate platform. We are happy to support Blackstone in acquiring this high-quality office asset in one of Europe’s most dynamic cities, and also with the implementation of their refurbishment plans for the asset.”

LaSalle’s Debt Investments & Special Situations team has a strong track record of developing strategic relationships with best-in-class borrowers, and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has committed €3.5 billion of investments across 70 individual transactions.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, together with Frankfurt based fund manager Universal-Investment, have acquired Ploum & Blaak House, two connected office properties in Rotterdam, on behalf of BVK from Real I.S.

The two properties are modern, high-quality office spaces behind a historical façade and offer a combined rental area of c.17,000m². Ploum House is a six-storey building currently undergoing a renovation scheduled for completion in Q4 2019 and is fully let to amongst others the Dutch law firm Ploum. Blaak House is a seven-storey property that has been recently fully redeveloped internally and is let to the service operator Tribes, with additional space to be filled under LaSalle’s management. The two buildings are located at Blaak, a major thoroughfare of the Rotterdam CBD with strong road, metro and tram connections. 

The Rotterdam office market is the second largest in the Netherlands and benefits from falling vacancy rates, which have more than halved since 2015, driven by conversions reducing supply, tenants migrating from the outskirts to the city centre and demographic growth. With the Dutch government promoting the growth of the Randstad economic region, the market performs strongly against LaSalle’s proprietary DTU+E criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment.

Christian Rust, Fund Manager at LaSalle, says: “As a state-of-the-art asset located in a central area of a major and growing European city, Ploum & Blaak House represents a strong addition to the fund. We’re pleased to be able to offer our client exposure to a prime office location and the upside potential of an excellent location in one of the Netherlands’ largest office markets.”

Nadine Gelke, Head of Investment for the Netherlands at LaSalle, said: “I am delighted that we have acquired this excellent asset on behalf of our client. It is a good example of our strategy to diversify our investment activities in the Netherlands while taking on leasing risk in DTU+E rich locations. We’ll be working to let the remaining space within the coming year through our proactive approach to asset management.”

LaSalle was advised by JLL, legal advisor Weebers Vastgoed Advocaten and technical advisor Drees & Sommer while the seller was represented by Savills and Loyens &Loeff.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) is pleased to announce it has earned high marks across two industry-recognized global sustainability benchmarks for asset managers, and has formally expressed its support for the Task Force on Climate-related Financial Disclosures (TCFD).

Within the 2019 Global Real Estate Sustainability Benchmark (GRESB), six of the firm’s commingled funds, its listed REIT in Japan, and three separate account mandates across Asia, Europe, and North America have been recognized for environmental sustainability. Across these 10 submissions, the firm achieved one 5-star, six 4-Star and three 3-star GRESB Ratings. In order to achieve a Green Star, a GRESB Assessment participant must meet score thresholds in both Management & Policy as well as Implementation & Measurement categories. With these results, LaSalle is in aggregate experiencing meaningful year-over-year improvements in both segments relative to 2018 results.

LaSalle products recognized within the 2019 GRESB include:

• Encore+
• JLL Income Property Trust
• LaSalle Asia Opportunity Fund V
• LaSalle Canada Property Fund
• LaSalle E-REGI
• LaSalle Logiport REIT
• LaSalle Property Fund

Additionally, two of LaSalle’s separate accounts based in France and a U.S.-managed separate account mandate were also recognized by GRESB for their performance in these areas.

LaSalle also achieved favorable results from its 2019 United Nations ‘Principles for Responsible Investment’ (UN PRI) Assessment Report, maintaining the strong relative performance since becoming an official signatory of the program in 2009. The UN PRI Assessment Report is a key global benchmark that assesses asset managers’ sustainability integration into decision making and ownership practices. The assessment reviewed over 1,000 participants, including all major global asset managers who complete a Strategy & Governance module and modules specific to their sector.

LaSalle UN PRI Assessment Report results (relative to median real estate industry score):

• Strategy & Governance: A+ (median: A)
• Listed Equity – Incorporation: A (median: B)
• Listed Equity – Active Ownership: B (median: B)
• Property: A+ (median: B)

LaSalle has also formally expressed its supporter for the Task Force on Climate-related Financial Disclosures (TCFD), joining a cohort of over 800 leading companies that take action against climate change and are thoughtful to consider how climate change will impact their businesses. LaSalle continues to develop the tools and indicators required to assess exposures to the risk and opportunities presented by climate change.

Eric Duchon, Global Head of Sustainability at LaSalle commented: “I am pleased with the continued progress of our assets and portfolios in relation to our overall sustainability and climate-related objectives, as evidenced by the advancement of our GRESB and UN PRI ratings and support for the TCFD. In tandem with the focus of driving investment performance for our clients, we remain committed to improving levels of sustainability, transparency and corporate governance across our business, and are dedicated to making a positive impact on the communities where we operate around the world.”

These recent achievements add to LaSalle’s track record of sustainability best practices and distinctions. Clients and industry organizations continue to recognize LaSalle for sustainability leadership and maintaining its distinction as an employer of choice. LaSalle has received the following awards and designations within the last 24 months:

• 2019 Energy Star Partner of the Year Award
• 2019 Green Lease Leaders
• Energy Star Charter Tenant
• P&I Best Places to Work in Money Management

About GRESB

GRESB is an industry-driven organization transforming the way capital markets assess the sustainability performance of real asset investments. More than 900 property companies and funds, jointly representing more than USD 3.6 trillion in assets under management, participated in the 2018 GRESB Real Estate Assessment. The Infrastructure Assessment covered 75 funds and 280 assets, and 25 portfolios complete the Debt Assessment. GRESB data and analytical tools are used by more than 75 institutional and retail investors, including pension funds and insurance companies, collectively representing over USD 18 trillion in institutional capital, to engage with investment managers to enhance and protect shareholder value. Greater transparency on sustainability issues has become the norm, with GRESB widely recognized as the global sustainability benchmark for real assets. For more information about GRESB and its sustainability benchmarking and reporting for real estate, please visit https://gresb.com/gresb-real-estate-assessment/.

About the PRI

The PRI is the world’s leading proponent of responsible investment. It works to understand the investment implications of sustainability factors and to support its international network of investor signatories in incorporating these factors into their investment and ownership decisions. The PRI acts in the long-term interests of its signatories, of the financial markets and economies in which they operate and ultimately of the environment and society as a whole. The PRI encourages investors to use responsible investment to enhance returns and better manage risks, but does not operate for its own profit; it engages with global policymakers but is not associated with any government; it is supported by, but not part of, the United Nations. For more information about UN PRI and its sustainability benchmarking and reporting for real estate, please visit https://www.unpri.org/.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has sold the property Torstrasse 15 to the City of Stuttgart. The almost fully occupied property was part of the portfolio of the LaSalle E-REGI.

• Multi-tenant property has a gross lettable area of 6,313 sqm
• Central and strategically advantageous location near the Stuttgart town hall
• Buyer State Capital Stuttgart will be the future main user

Raised in 1989 for the private bank Ellwanger & Geiger, and currently used predominantly as office accommodation, the six-storey building has a gross lettable area of 6,313 sqm and 49 underground parking spots. Located in a prominent downtown corner position on Torstrasse and the B14 federal route, near the town hall and the main shopping district along Königstrasse, the property benefits from excellent connections to public transportation. The current main tenant of the customizable multi-tenant building (including office, retail and restaurants) is the Barmer GEK health insurance.

The property was acquired by LaSalle in early 2017 for its open-ended pan-European real estate fund LaSalle E-REGI. The fund with a current AUM of ca. €710 million aims for stable income return from a diversified core portfolio (office, retail, logistics and hospitality) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI), which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short- to medium-turn.

Uwe Rempis, Fund Manager of LaSalle E-REGI , said: “The disposal is an excellent example for active fund management and reflects that opportunistic strategies can be successfully employed to generate profits. During its holding period, Torstrasse 15 generated highly satisfactory returns for our fund. The market in Stuttgart is currently demand-driven. The city, being one of the most attractive office locations in Germany and indeed Europe as a whole, has a low vacancy rate and limited options to expand because of its topography. In this situation, selling the property to the City of Stuttgart was the right decision in the best interest of our investors. Seizing opportunities to sell for the benefit of our investors has been part of our strategy for the LaSalle E-REGI fund for a long time: As early as 2014, we took advantage of a similar opportunity with the disposal of the Junghofstrasse asset in Frankfurt.”

LaSalle was advised by Beiten Burkhardt (Legal). E & G Real Estate acted as advisor to the buyer.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is pleased to announce that it has provided a senior loan facility to the Manhattan Loft Corporation to finance Manhattan Loft Gardens, a high-rise tower in Stratford, from the LaSalle Real Estate Debt Strategies III (“LREDS III”) fund.

Situated between the Queen Elizabeth Olympic Park and Stratford International Station, Manhattan Loft Gardens is a fully glazed, 42-floor residential tower, incorporating both residential and hotel uses and comprising three sky gardens and a level of amenities surpassing any existing residential scheme in Stratford. The property’s unique double-cantilevered structure was designed by SOM, the world-renowned high-rise architects.

The hotel, which is operated under “The Stratford” brand, is located between the ground and seventh floors and comprises of 146 rooms. The residential scheme provides 248 high-specification residential units, predominantly one- and two-bedroom flats, situated between the eighth and forty-first floors. All residents will benefit from the hotel facilities and services, including a fully equipped gym and dry spa.

Daniel Pottorff, Managing Director of Debt Investments and Special Situations at LaSalle, said: “We’re delighted to have provided a financing solution to Manhattan Loft Corporation for one of London’s most innovative and unique new-build residential towers, extending our track record of lending against quality assets with best-in-class sponsors.”

Amy Klein Aznar, Head of Debt Investments and Special Situations at LaSalle, added: “We have been large and consistent financiers in UK residential and our Manhattan Loft Gardens financing is in line with our residential debt investment strategy focused on urban growth areas near transportation nodes. Previously we have lent on projects such as the nearly-completed City North Development on Finsbury Park tube station, by Telford Homes and Business Design Group, and we have financed over £650million over the past several years in UK residential across our LREDs and LRF series. This loan represents the 15th deal completed by LREDS III since 2017 and, with transactions in documentation, will bring deployment to c.90 per cent of commitments.”

Through the LREDS III fund, LaSalle’s Debt Investments and Special Situations team invests across Western Europe lending against assets that offer compelling risk-adjusted returns across mezzanine and whole loan investment opportunities. The fund closed in late 2017 and attracted a diverse mix of investors from Europe, the Middle East, Asia and the United States.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) is pleased to announce that Stuart Sziklas will join the firm as the Head of U.S. Custom Accounts, effective September 3, 2019. Mr. Sziklas will be based in LaSalle’s global headquarters in Chicago, report to Americas CEO Jason Kern and join the Americas Advisory Board, as well as the Americas Investment Committee.

Mr. Sziklas’s appointment coincides with the transition of Karen Brennan to CEO of LaSalle’s European business.

In this role, Mr. Sziklas will lead the team of portfolio managers for LaSalle’s U.S. Custom Accounts clients, responsible for actively managing portfolios of office, retail, multifamily and industrial investments located throughout the U.S., while delivering investment performance that meets or exceeds objectives. Working closely with LaSalle’s Transactions, Asset Management, Research & Strategy, Client Accounting and Client Capital Group, he will oversee the development and execution of individual portfolio strategies including selection of new investments, key property-level initiatives, financing strategy, and hold / sell decisions.

Mr. Sziklas brings more than 20 years of industry experience to LaSalle, having served in a variety of portfolio management, acquisitions and asset management roles. Most recently he served as Senior Managing Director, Portfolio Manager at CBRE Global Investors, where he was responsible for overseeing large-scale separate account mandates spanning 11 million square feet with an aggregate value of $3.5 billion.

Prior to CBRE Global Investors, Mr. Sziklas was a member of the asset management group of Beacon Capital Partners, a Portfolio Manager for CBRE New England, and a Director of Property Management for Aetna Inc’s Corporate Real Estate group.

Jason Kern, LaSalle Americas CEO, said: “I am excited to welcome Stu onto my senior management team as the next leader of our U.S. Custom Accounts business. With his broad-based experience and extensive background working across property types and the risk spectrum, he has the right mix of skills to help continue LaSalle’s track record of delivering strong investment performance for our clients. I am confident that Stu will be an excellent cultural fit and a terrific addition to our firm.”

Stuart Sziklas, Head of U.S. Custom Accounts, commented: “I am excited to join LaSalle during a period of substantial growth, and look forward to helping build upon the firm’s impressive track record of investment performance. LaSalle’s strong reputation and platform capabilities are a testament to the quality of its people, and I look forward to working closely with colleagues around the world to help advance the firm’s objectives.”

About LaSalle’s U.S. Customs Accounts Group

Custom Accounts is LaSalle’s U.S. separate account business with approximately $10 billion of assets under management. LaSalle’s U.S. Custom Accounts team designs and executes mandates with the appropriate risk-return balance based on investment objectives established through dialogue with its clients. Each program is tailored by property type, geography, target returns, use of leverage, risk profile and liquidity needs. All accounts are managed by experienced Portfolio Managers supported by teams of real estate professionals that represent a complete range of skills including research and strategy, acquisitions, due diligence, asset management, client services and accounting. Mandates cover core, value-add and opportunistic investment strategies, and can encompass a single sector and strategy or a more diversified approach. The separate accounts are invested across the main property sectors, including office, industrial, retail, and residential.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has acquired a logistics and a wholesale property located in Heppenheim, Germany, for its LaSalle E-REGI fund. LaSalle has bought the assets from three private vendors.

The assets comprise a motorway logistics property and a retail property, both of which are fully let to prestigious international tenants. The former, a state-of-the-art new-build distribution facility acquired from GbR Biskupek-Scheinert-Klotz, has a rental area of over 18,000m2 and is leased exclusively to Henry Schein, the global medical product distributor. The latteris a wholesale property with over 5,000m2 rental area that was purpose-built for MetroGastro, its sole tenant and a subsidiary of Cash & Carry operator Metro group.

Located in Heppenheim, south of Frankfurt, the two assets sit between two metropolitan regions – Frankfurt/Rhine-Main and Rhine-Neckar – with a combined population of over 8 million. The properties benefit from strong transport links, including Europe’s leading freight airport in Frankfurt, less than a half-hour’s drive away; the nearby Mannheim-Handelshafen container terminal, Europe’s second largest inland port with rail and river connections to European business and transportation centres; and the major A5 and A67 highways.

Uwe Rempis, Fund Manager at LaSalle Investment Management, said: “With the long-term growth of e-commerce continuing to drive an increase in demand for well-located logistics assets, we have been seeking opportunities to further increase the LaSalle E-REGI fund’s allocation to the logistics sector. These assets are modern and attractively situated, fitting our criteria and offering further sectoral diversification to our investors. We are pleased to have acquired two properties that offer stable long-term rental income secured against high-quality tenants in market-leading positions.”

LaSalle worked on the transaction with Knight frank (Broker), Taylor Wessing (Legal), Gleeds (Technical & Environmental), Wuest Partner (Valuation), KPMG (Tax) and JLL (Buy-Side Advice).

The LaSalle E-REGI fund is an open-ended pan-European real estate fund that aims to generate stable income return from a diversified core portfolio (office, retail, logistics) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI), which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term. The Fund also includes additional screening filters such as JLL`s Global Real Estate Transparency Index and minimum market size.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (LaSalle) has published the Mid-Year update for the 2019 Investment Strategy Annual. Under a slow growth, low inflation, and low interest rate environment, LaSalle’s regional real estate strategy focuses on sectors, markets and locations where domestic consumption growth supports real estate demand. This press release focuses on the Asia Pacific regional outlook.

LaSalle expects a weaker macro environment in the next 6-12 months than the past few years, partly due to the U.S.-China trade war and the maturing global economic cycle. However, a financial crisis or a regional recession is not in LaSalle’s base case. Japan is likely to be more resilient than other major Asia Pacific countries. China is expected to experience some short-term weaknesses but remains positive on the mid to long-term as the country has multiple monetary and fiscal tools to offset the negative impact from the trade war. Since market outlook has shifted to monetary easing, capital market liquidity is expected to remain high in the region, barring any external disruption.

Elysia Tse, Head of Asia Pacific Research and Strategy at LaSalle says: “Although capital market volatility is increasing, real estate investors are likely to continue to invest but at a slower pace with discipline. For core strategies, investors will need to focus on areas with relative resiliency and protecting the durability of cash flows. For higher-return strategies, investors are likely to seek real estate segments and locations that could outgrow the broad economy. The focus of higher-return strategies is shifting from maximizing returns to narrowing the dispersion of return outcomes.”

“The focuses on asset management will be maintaining flexibility on holding periods and asset-level business plans, and identifying early lease renewals or early exits opportunities. The focuses for new acquisitions will be the location and each asset’s strength that matches stringent underwriting criteria.”

Property Sector insights in Asia Pacific:

• Office: Office market performance is expected to continue to diverge in the region. We recommend being highly selective on submarkets, location and asset quality.
• Logistics: We continue to favor the logistics sector in the region. We anticipate high development yields in China and South Korea. Not only is logistics demand supported by domestic consumption and the growth of e-commerce, but logistics rents are generally less volatile than those of offices.
• Retail: We are cautious of the overall retail sector. However, selective retail properties in Japan and Singapore are expected to be less impacted by e-commerce than South Korea.
• Hotel: Asian tourist demand is another strength for the region. Location selection is critical, as well as identifying the hotel segment that match tourist profile.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) today published the findings of a comprehensive survey that examines how sustainability concerns factor into institutional real estate investors’ decisions. The survey was administered by Private Equity Real Estate (“PERE”), to 60 institutional investors between March and June 2019. While the majority of respondents confirm that sustainability plays a role in their investment decision making, the findings reflect clear regional differences in sustainability attitudes.

The full report can be downloaded at: http://lasalle.com/impact

On a global level, more than one-third of respondents expressed that sustainability plays a major role in their capital allocation decisions. Europe continues to build upon its track record for being the most sustainable-focused region, with 45 percent of respondents admitting that sustainability plays a major role in their investment decisions. Conversely, in North America, nearly one-third of respondents consider sustainability principles a factor of secondary or tertiary importance, while 25 percent of respondents assert that it plays a major role. Asia-Pacific respondents demonstrated mixed feelings about sustainability policy, displaying a nearly balanced sentiment.

Eric Duchon, Global Head of Sustainability at LaSalle, commented, “This report shows that sustainability is not simply a buzzword or passing trend. sustainability initiatives have become more central to real estate investment strategies, and these policies are increasingly driving institutional investors’ decisions. We believe that it is essential for investment managers to have a well-constructed and properly implemented sustainability policy in place in order to raise capital. While some of the geographic and sector-specific disparities uncovered in the report demonstrate that there is still much work to be done, the bottom line is that sustainability is no longer a ‘nice-to-have.’ It is a moral imperative and fiduciary duty for private investment managers.”

Reflecting an increased focus on sustainability factors, 70 percent of the survey’s respondents professed to having an explicit sustainability policy in place while 86 percent deemed it important for managers to evidence a clear sustainability policy at due diligence. Interestingly, however, many respondents admit that it is difficult to correlate a manager’s sustainability policy to actual investment returns. In fact, only 6 percent find this an easy exercise, while 45 percent do not bother with this analysis at all. These findings suggest that more needs to be done to develop a clear methodology that allows investors to assess the value sustainability delivers to the bottom line.

The survey also found disparity toward sustainability commitment relating to different real estate sectors. For instance, investments into office space have made the greatest strides, with 80 percent of respondents reporting moderate or significant progress. On the other hand, 48 percent of respondents have experienced little or no progress with retail investments. Importantly, investors are optimistic about the value versus cost of sustainability policy implementation: 43 percent believe the value of sustainability is greater than the cost of implementation, with a further 12 percent stating that the value is on par. Just 6 percent of investors consider the cost of implementation to outweigh the value.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

The team working on the Sixty London Wall construction project hosted a topping out ceremony at the development.

This crucial milestone was marked with a traditional ceremony, attended by LaSalle Investment Management, Citygrove and members of the design and construction team.

The topping out event was celebrated with a final pouring of concrete, in a rooftop ceremony.

The existing structure is being comprehensively remodelled and refurbished, with Skanska demolishing part of the building before adding four new floors, to take the building up to 11 storeys. The mixed-use commercial and retail development in the City of London is due to complete in June next year.

Gary Moore, Head of International Accounts at LaSalle, said: “The project team are doing an excellent job and the topping out of London Wall is an important milestone in the creation of an excellent investment for our client.” 

Tony Boorer, Project Director, commented: “Once complete, this building will have five floors of terraces with stunning views of London. The internal spaces will be of high-quality with a contemporary modern design. It also contains ground floor and basement level retail space”.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, has managed the acquisition of a large logistics property in south-west Warsaw on behalf of the Encore+ fund. This property has been developed by Panattoni Europe, the largest logistics developer in Europe.

Panattoni Park Warsaw West was completed in 2017 and provides over 43,000m2 of rental space, with more than 380 parking spaces and 79 loading docks. The site, which has best in class technical specifications, consists of seven units and offers a flexible layout that is adaptable to the needs of medium to large size occupiers. Current tenants include Rhenus Group, the major international logistics services provider, and Nunner, one of Europe’s largest logistics services firms.

The asset is located in Grodzisk Mazowiecki, a suburb of Warsaw that is 35km from both Warsaw City Center and Chopin Airport Warsaw. It is situated near to the A2 motorway, which is a strategic transport route between Warsaw and Lodz, the two most important cities in Poland for logistics, and links Poland directly to Western Europe through Berlin. Panattoni Park is set to benefit from road infrastructure improvements, with the number of lanes on the A2 motorway soon to increase and improvements to internal connectivity into Warsaw also underway.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is another important acquisition for Encore+ that increases its exposure to logistics in Warsaw, the fastest-growing market in Poland, through an asset with excellent specifications and connections. The Warsaw logistics market is experiencing year-on-year decreases in vacancy rates, with the current rate at 4.8 per cent. When combined with expected constraints on development in the area due to increasing construction costs and legislative pressures, this indicates that the asset is set to experience a favourable supply-demand dynamic in the future.”

LaSalle was advised by JLL, Trebbi Poland, EY and Allen & Overy.

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, announces today that Martin Zdravkov has joined its UK business in the newly-enhanced role of Head of UK Residential & Impact Investing, based in London.

In this role, Mr Zdravkov will report to Philip Nell, the Head of UK Real Return Assets at LaSalle. He will be responsible for various investment strategies in the residential sector, including Build-to-Rent, Social Housing and Shared Ownership, Specialist Supported Living and Extra Care Living, key worker and temporary accommodation. He will lead in driving forward LaSalle’s impact investment strategy, working closely with Eleanor Lindsay, Co-Fund Manager, Impact Investing, and Sophie Carruth, the Head of European Sustainability, in building on the investment manager’s recent track-record of investing for specific clients in impact assets.

Mr Zdravkov joins LaSalle from Aviva Investors where he was Portfolio Manager for the REaLM Social Housing Fund and various other UK and pan-European long income real estate funds, as well as launching new products, such as the European long income fund. Previously he was a Senior Investment Manager for the Notting Hill Housing Group (“NHH”), one of the largest housing associations in the UK, where he was responsible for Corporate Finance and business development, investing around £1 billion in social housing.

Alan Tripp, Head of UK at LaSalle, said: “I am delighted that Martin has joined us at this exciting time in the growth of the UK business. The UK residential sector is of great importance to our long-term strategy; this combined with our commitment to implementing sustainable strategies in all of our investment decisions, makes Martin an excellent addition to our Fund Management team.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) today announced that its U.S. value-add fund series, LaSalle Income & Growth, has acquired 4 Hutton Centre, a 216,864-square-foot office building in the Airport submarket of Orange County, California. This transaction presented a unique opportunity to acquire a well-located, well-maintained office building with significant upside potential through the addition of tenant amenities, a lobby upgrade and lease-up that will further position the property as a Class-A office building.

4 Hutton Centre is 80% occupied by a diverse mix of 21 tenants with a short weighted average lease term of 2.9 years allowing the fund to immediately benefit from property improvements. The property is situated in the Hutton Centre mixed-use campus, directly west of Freeway 55 and north of Interstate 405, providing great visibility, access to surrounding amenities, and direct, virtually non-stop access to the John Wayne Airport. The 10-story property was renovated in 2008 and 2012, and has been well-maintained by previous ownership, but provides a compelling opportunity to upgrade common areas and add amenities to further enhance its appeal.

Joe Munoz, Chief Investment Officer for LaSalle’s Income & Growth Funds, commented, “The acquisition of 4 Hutton Centre is a great fit for our portfolio, and aligns with our objective to reposition well-located office properties to core assets through our active asset management program. Office property fundamentals in the Airport submarket continue to strengthen, and we expect demand to continue to exceed supply in support of income growth.”

Erick Paulson, Managing Director of Acquisitions at LaSalle, stated, “4 Hutton Centre offers many favorable characteristics, including close proximity to transportation nodes, executive housing, John Wayne Airport, and a strong amenity base. The Orange County office market continues to strengthen with steady growth from technology, healthcare and financial services, providing diversification that was not present in the submarket during the previous real estate investment cycle.”

Orange County is a strategic location between Los Angeles and San Diego, with convenient access to major cities and attractions throughout Southern California. It boasts a population of 3.5 million whose residents are characterized as some of the most affluent and highly educated in the nation. The market’s corporate base includes headquarters of ten Fortune 1,000 companies representing a variety of industries such as technology, tourism, healthcare, and financial services.

About LaSalle Income & Growth Funds

The LaSalle Income & Growth funds are the firm’s flagship closed-end U.S. value add fund series, with the first fund in the series launched in 1996. Aggregate fund series capital commitments total $3.6 billion, with approximately $12.4 billion in total transactional volume across all funds in the U.S. series. The fund seeks to acquire under-managed, under-capitalized, or mispriced assets to be repositioned as core assets. Property level-investment strategies include lease-up, renovation/repositioning and selective ground-up development.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, is pleased to announce that it has acquired a serviced-apartment development pre-let to Staycity in Courbevoie, in close proximity to La Défense, on behalf of LaSalle E-REGI. It was acquired from Kaufman & Broad on a forward-funding investment (VEFA contract).

A newly-constructed building will be complete on this development in July 2021; this will form part of a c.30,000 sqm mixed-use complex called Highlight and will be comprised of three other buildings. All of these buildings will be arranged around an 850 sqm landscaped garden.

The aparthotel will be comprised of 6,313 sqm of which there will be 216 rooms spread over seven floors. The property will also benefit from various amenities (coffee shop, gym, laundry, luggage room), a private terrace and car park. It will be certified BREEAM Very Good.

Located on rue de l’Industrie in Courbevoie, the property benefits from a strategic location close to both La Défense and the Paris CBD. The property is a short walk from the “Esplanade de La Défense” metro station Line 1 and one station away from RER A express train. Both lines provide a direct link to Paris CBD and quick connection to the various transportation hubs in central Paris (Châtelet, Saint-Lazare etc.).

LaSalle E-REGI is an open-ended pan-European real estate fund (AIF), with a current AUM of €710 million. It was launched by the capital management company LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH (“LaSalle KVG”), which is 100% owned by LaSalle GmbH, and has attracted investment from a number of major institutional investors. It aims for stable income return from a diversified core portfolio (office, retail, logistics and hospitality) in transparent markets. The investment strategy is based on a quantitative model, the European Regional Economic Growth Index (E-REGI) which has been developed by LaSalle since 1999 and identifies the cities and regions across Europe that have the greatest economic growth potential over the short to medium term.

Uwe Rempis, Fund Manager of the LaSalle E-REGI fund at LaSalle, said: “I am delighted to announce this fourth acquisition in France, and our first in the alternatives sector in this country. This sector is a focus for the fund where we are targeting high-quality, core assets in strong locations.”

Beverley Shadbolt, Country Manager for France, added: “I am delighted with this, the French business’ first alternative investment in France. We expect this sector to perform very well in France over the coming years and as such our team has sourced this opportunity in an excellent location. LaSalle has significant experience of investing in the alternative sector across Europe and we are actively looking for similar opportunities in France.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, today announces that it has extended its first development loan of €20.5 million from the expanded LaSalle Residential Finance Europe programme (“LRF”) to Amro Real Estate Partners. The development is a 360-bed purpose-built student accommodation in Granada and the proposed scheme will be approx. 10,495sqm across two buildings. In addition, the scheme will provide desirable and high-quality amenities such as a swimming pool, a multi-sport court, cinema room and study library.

The loan has been extended from LRF following on from its recent expansion into Continental Europe. Together with additional capital raised, it increases the total size of the LRF programme (established in 2013) to £845 million. LRF provides stretch senior and higher-leverage financing solutions for developments at loan-to-cost ratios of up to 80 per cent, with loans ranging from €20 million to in excess of €100 million. The expansion into Continental Europe will provide loans primarily for the development of student accommodation. This is in addition to LRF’s current development lending activities in student housing, residential, hotel and healthcare development lending throughout the UK.

LaSalle’s Debt & Special Situations business provides its borrowers a wide range of financing solutions by actively investing through its four strategies: LREDS III, LRF III, LWLS I/II and Special Sits. These debt products include whole loans, mezzanine, development financing, stretched senior loans, preferred / joint venture equity in the UK and Western Europe. The LRF programme is complementary to LaSalle’s LREDS series; the third fund in this series closed at the end of 2017 with aggregate commitments of £804 million. LREDS III invests across Western Europe, lending against quality assets with best-in-class sponsors; the combination of which offers compelling risk adjusted returns across mezzanine and whole loan investment opportunities. LWLS I/II, with EUR600m of commitments, invests in whole loans across Western Europe.

The team has previously invested over £400m in student accommodation lending across its strategies. Highlights include:

• €100 million+ acquisition and development facility for a portfolio of six student accommodation assets in Madrid and Barcelona, Spain.
• €17 million development facility for a new 400+ bed student accommodation asset in Seville, Spain.

LaSalle has been very active in the Spanish market where Spanish banks have been constrained with their lending and LaSalle has extensive knowledge of student housing as an asset class. As a result, the LRF programme, which offers stretch senior loans up to 80% LTC, provides an accretive solution for developers.

Amy Klein Aznar, Head of Debt Investments & Special Situations at LaSalle Investment Management said: “We are very happy to be expanding the LRF programme to Continental Europe given the programme’s success in the UK. The loan that we have extended in Granada is an excellent example of the type of student housing development that we find compelling and which meets the needs of students today. Over the past several years, our team has invested more than £400m in student housing and this remains a core sector for our debt investment activities. The team has already completed other student housing development and investment facilities in Continental Europe and we continue to see strong borrower demand. The new commitment to Continental Europe will allow the LRF programme to consolidate its position as a European market leader in debt investment for bed-based sectors like student accommodation and residential.”

LaSalle’s Debt and Special Situations team has a strong track record of developing strategic relationships with best-in-class borrowers and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has committed £3.4 billion of investments in over 67 individual transactions and secured against £13 billion of real estate.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”), the global real estate investment manager, acquired a portfolio of six properties of MAKRO Spain from METRO PROPERTIES, the real estate company of METRO AG, as part of a sale-and-lease-back transaction. The portfolio was acquired on behalf of French public service pension scheme ERAFP for €73 million. The transaction was closed in June 2019. Following the transaction, MAKRO Spain will remain the sole tenant of all six assets with a 15-year fixed lease term with extension options.

“We have in recent years continuously enhanced our relationship with our hospitality customers. The transaction shows the commitment of our company to the Spanish market where sectors such as tourism and hospitality are developing great performance and offering clear growth potential for our company,” said Peter Gries, CEO of MAKRO Spain.

The six stand-alone properties are located in the major tourist areas of Bilbao, Zaragoza, Badalona, Valencia, Alicante and Palma De Mallorca, with each asset the dominant wholesale store in its respective city. Strategically located within semi-urban locations in well-established tourist destinations, the six assets cater predominantly to professional customers from the hotel, restaurant and catering sectors. The portfolio’s catchment area attracts c.40 million overnight tourists per year, benefiting from the strength of Spain’s tourism industry. In addition, c.10.1 million permanent inhabitants live within a 30 to 45-minute drive of the portfolio, representing almost 22% of Spain’s total population.

Mathias Malzbender, Head of Separate Accounts for Continental Europe at LaSalle Investment Management, said: “This acquisition allows us to improve the sector and country diversification of the Fund. Given the prime locations of the assets and strong sales record of the stores to date, we are confident that the MAKRO portfolio will produce attractive long-term income, continuing the strong performance of the fund.”

“Our activities strictly follow the aim of increasing the value of METRO’s real estate. This includes future-oriented investments in our locations, their sustainable development and sale & lease back transactions as long-term commitments. The sale of select assets from the real estate portfolio in Spain is one element of our global portfolio strategy. With LaSalle we have a partner who shares our vision for the wholesale business,” explained Wolfgang Baumgartinger, Director Transactions, METRO PROPERTIES.

Francesco Coviello, Head of Acquisitions for Central and Southern Europe at LaSalle, said: “I am delighted that we have acquired this excellent portfolio of assets, based across Spain, a country delivering growth rates well above the Eurozone average. Furthermore, the logistics and warehousing sector is set to outperform given the thriving state of e-commerce in country. This is an excellent example of the strong network that we have in Spain, where we are investing on behalf of a range of clients.”

For this transaction, METRO PROPERTIES was advised by the consulting firms CBRE and Simmons & Simmons (legal advisory).

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) was named a Gold-level Green Lease Leader at the BOMA International Conference in Salt Lake City, Utah, an annual event that brings together thousands of commercial real estate professionals to share the latest industry trends and operational best practices. 

Established six years ago by the Institute for Market Transformation (IMT) and the U.S. Department of Energy’s Better Buildings Alliance, Green Lease Leaders helps identify and recognize leading-edge companies and real estate practitioners who break down barriers to high-performance buildings by revolutionizing the lease to incorporate energy efficiency and sustainability. Green leases, also known as “energy-aligned” leases, create mutually beneficial agreements for building owners and tenants by equitably aligning the costs and benefits of energy and water efficiency investments for both parties.

The Green Lease Leaders Gold designation is awarded to organizations that exhibit a strong commitment to sustainability in buildings and best practice leasing. LaSalle was recognized as a Gold-level award winner for building upon its silver-level achievement last year and executing leases with sustainability clauses at multiple assets across its U.S. portfolio.

Eric Duchon, Global Head of Sustainability at LaSalle, commented: “We are pleased at the substantial progress made within our U.S. portfolio to achieve the Gold-level Green Lease Leaders designation. Integrating sustainability clauses within our leases is a critical asset-level strategy to engage with our tenants and further implement ongoing sustainability initiatives. We remain committed to enhancing our sustainability practices and measurements concurrent to our focus on achieving strong investment performance on behalf of our clients.”

This achievement adds to LaSalle’s track record of sustainability best practices and distinctions. Industry organizations continue to recognize LaSalle for sustainability leadership and maintaining its distinction as an employer of choice. LaSalle has received the following U.S. and global awards in the past year:

• 2019 ENERGY STAR® Partner of The Year Award
• GRESB, UN Principles for Responsible Investment, Task Force on Climate-Related Financial Disclosure
• 2018 Green Lease Leaders Award
• Energy Star Charter Tenant
• P&I Best Places to Work in Money Management

Cliff Majersik, Executive Director for the Institute for Market Transformation (IMT), added: “Each year, it becomes more important for commercial landlords and tenants to use every available tool and strategy to improve building performance to stay in step with the changing landscape of climate change action and competitive real estate markets throughout the U.S.

“A green, high-performance lease is an incredibly effective tool to help landlords and tenant companies achieve significant win-win business, energy, and health benefits that are good for the real estate industry, good for cities, and good for the air we breathe. IMT and the Department of Energy’s Better Buildings Alliance are proud to honor the 2019 Green Lease Leaders at this year’s BOMA Annual Conference & Expo, and we congratulate them for joining the wave innovative firms that are taking energy efficiency and sustainability in leased properties to the next level.”

This year, Green Lease Leaders represented portfolios totalling more than 501 million square feet, bringing the cumulative floor area of all Green Lease Leaders to over 2 billion square feet of building space – an indication green leasing is a real estate trend that will continue to grow as a best practice across markets.

Standard commercial leases have historically been a roadblock to more efficient buildings because they create a split incentive where one party reaps the benefits of investing in building upgrades. A green lease agreement guarantees that environmental measures are collaboratively taken by landlords and tenants, and it acts as a catalyst and safeguard for achieving win-win goals and savings for both parties. Green lease clauses can address a range of efficiency improvements that not only help landlords and tenants lower operating expenses, but also increase return on investment, comply with city and state building performance laws, and enable more healthy spaces that are attractive to employees and customers.

An IMT study has shown that green leases have the potential to reduce utility bills by up to $0.51 per square foot (11-22 percent) in office buildings alone, and, if all leased office buildings executed green leases, the U.S. office market alone could save over $3 billion in annual cost savings.

For more information on the Green Lease Leaders program and this year’s recipients, visit greenleaseleaders.com.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) today announces it has commenced construction on five new LaSalle Logiport logistics developments in Shanghai Qingpu, Suzhou, Jiaxing, Chongqing and Xi’an. The projects are expected to deliver leasable GFA of 359,000 sqm upon completion in early 2020.

LaSalle Investment Management (“LaSalle”) today announces it has commenced construction on five new LaSalle Logiport logistics developments in Shanghai Qingpu, Suzhou, Jiaxing, Chongqing and Xi’an. The projects are expected to deliver leasable GFA of 359,000sqm upon completion in early 2020.

Development highlights

LaSalle Logiport Shanghai Qingpu Logistics Park

• Two-storey ramp-up, 47,000 sqm, high specification logistics facility
• Expected construction completion in June 2020
• Prime location in Qingpu Industrial Zone, 50 km to Shanghai CBD

LaSalle Logiport Suzhou Wangting Logistics Park

• Two-storey ramp-up, 51,000 sqm, high specification logistics facility
• Expected construction completion in May 2020
• Prime site in Suzhou Wangting Logistics Park, 90 km to Shanghai CBD

LaSalle Logiport Jiaxing Pinghu Logistics Park

• Two-storey ramp-up, 96,000 sqm, high specification logistics facility
• Expected construction completion in April 2020
• Prime site in Jiaxing Pinghu Dushan Port, 90 km to Shanghai CBD

LaSalle Logiport Chongqing Airport Logistics Park

• Single-storey 97,000 sqm, high specification logistics facility
• Cross-docking available
• Expected construction completion in June 2020
• Prime site in Chongqing Airport Logistics Zone, 15 km to Chongqing CBD

LaSalle Logiport Xian Airport Logistics Park

• Single-storey 68,000 sqm, high specification logistics facility
• Cross-docking available
• Expected construction completion in July 2020
• Prime site 4 km from Xi’an Airport, 18 km to Xi’An CBD

Alex Li, LaSalle Investment Management Senior Vice President, Logistics Leasing and Business Development said: “We are very excited to have these new developments in China. Strong domestic consumption will continue to drive demand for modern facilities in China. We have seen significant pre-leasing activity on our development portfolio. Our strong track record and development pipeline shows LaSalle’s extensive network in China and the value creation we can provide to our customers. We look forward to supporting our clients as their businesses continue to grow.”

Claire Tang, LaSalle Investment Management Head of Greater China commented: “The market fundamentals for China logistics remain compelling. Consumer purchasing driven by technology and e-commerce has been rapidly pushing up the demand for modern logistics facilities located in top tier markets. We look to continue expanding our logistics portfolio footprint in China.”

She added “Investing in modern logistics facilities has been a key focus for LaSalle in the region, and we plan to further capture acquisition and development opportunities in this sector in China moving forward.”

As of today, LaSalle has developed over 5.6 million sqm of modern logistics warehouses in Japan, China and South Korea, and currently manages approximately US$3 billion AUM in high-quality industrial assets across the Asia Pacific region.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle is pleased to announce the launch of the LaSalle Whole Loan Strategies programme by its Debt & Special Situations team. This is a €600 million programme focused on originating whole loans secured against real estate in Western Europe and the Nordics. The programme’s strategy is to originate and hold whole loans with loan-to-values ranging from 70 per cent up to c.80 per cent across various asset types. The strategy targets financings between €25 million and €100 million plus.

This is the latest programme from LaSalle’s market leading Debt Investments & Special Situations platform. The addition of this product further enhances LaSalle’s ability to provide financing solutions across the capital stack, including whole loans, mezzanine, development financing, and stretched senior loans.

The strategy’s first investment is a €37 million transaction to finance the aggregation of a high-quality portfolio of last mile logistics assets located mostly around Paris, France. The financing provided the sponsor the flexibility to match its business plan to acquire the assets in batches differentiating it from a traditional senior and mezzanine financing solution. Follow-up investments include a €36m whole loan to finance a fully let distribution centre in Belgium and an office asset in Ireland.

Ali Imraan, Managing Director, Debt & Special Situations, said: “I am delighted to launch the LaSalle Whole Loan Strategies. We have seen an increasing number of borrowers seeking flexible financing solutions for assets by combing senior and mezzanine loans through the efficiency of whole loans. This new programme will allow us to provide borrowers with a truly one-stop financing solution, greatly reducing their execution risk. It is also more efficient compared to a traditional senior and mezzanine solution, particularly for smaller deals.

“While geographically the strategy targets opportunities all across Western Europe, there is an initial focus on France, Benelux, Iberia, and Ireland.”

LaSalle’s Debt Investments & Special Situations team has a strong track record of developing strategic relationships with best-in-class borrowers, and has significant experience across various sectors, geographies, deal sizes, and capital structures. Since 2010, the team has committed €3.2 billion of investments across 66 individual transactions.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle has managed the acquisition of an office building, Wronia 31, with excellent sustainability credentials in Warsaw’s City Centre west zone from Ghelamco, on behalf of the pan-European fund Encore+. This dynamic market is the fastest developing market and is emerging as a major business location in Warsaw.

This asset is a newly built high-quality office building of 16,667 m² over 14 floors, with a multi-tenant structure. Wronia 31 is located in an area with very strong tenant demand from blue chip companies and situated right next to the Warsaw Spire and to a variety of public transport options. The building benefits from an Outstanding BREAAM rating and recently won the international BREEAM Awards 2019 competition in the category of Regional Award Central and Eastern Europe.

Total office take-up in Warsaw has been strong and steadily increasing over the last decade and is forecasted to further increase annually by 4 to 5 per cent for the next three years on the back of constant growth of office-based employment. The strong demand Warsaw is experiencing is driven by economic growth, the availability of a skilled workforce and a growing number of students, all– key factors for international companies moving to Poland. The total volume of leasing transactions reached over 600,000m² by the end of 2018.

David Ironside, Fund Manager for Encore+, says: “This is an excellent acquisition for Encore+ where the asset characteristics of geography, sector and micro-location are all in line with the Fund’s investment targets; moreover it increases our exposure to the growing Central European office market and the economic growth in Warsaw.”

Francesco Coviello, Head of Transactions for Central and Southern Europe at LaSalle, says: “This is a very well-located asset in an area with much lower vacancy rates than the rest of Warsaw. As such this is an excellent fit for LaSalle’s flagship pan-European fund and highlights our local knowledge in Poland and our ability to source high quality assets.”

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle has managed the acquisition of a high-quality office development on rue Jeanne d’Arc from AG Real Estate, on behalf of the pan-European fund Encore+; this is a forward-funding investment (VEFA contract). The property has a strategic location in the 13th arrondissement near to the world’s largest tech start-up incubator, Station F, which was opened in 2017 under the initiative of Xavier Niel.

The deal involves the development of a new 9,800 m² building, constructed with tenants in mind, who demand the highest, international-quality office space, with the principal factors being sustainability, flexibility, and quality amenities. The building offers individual and collaborative work spaces, a rooftop on the 8th floor, and private parking amongst many other amenities. It will be available for tenant occupation in the summer of 2021.

Designed by the architects Atelier du Pont, the building will comply with norms and standards relating to energy efficiency, with a high standard of sustainability and connectivity, such as standard RT 2012 -40%, HQE sustainable building passport “excellent level”, “Very Good” for BREEAM, “Gold” for WELL as well as “Gold” for WiredScore.

This office development on rue Jeanne d’Arc, and next to “Nationale” metro station (line 6), is the Fund’s eighth acquisition in France; these are a key part of Encore+’s strategy, with French offices anticipated to perform well.

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. Value-add will continue to be part of the Encore+ strategy.

This development encapsulates the strategy of AG Real Estate, to position itself as a dynamic tertiary developer in the Paris market. The pipeline of development projects in the works currently stands at roughly 400,000m² for a turnover of €2 billion.

David Ironside, Fund Manager for Encore+, says: “This asset is an outstanding example of the location-focused strategy of Encore+, with strong DTU+E credentials and in a strategic location with a mixed-used environment. Our teams actively seek out opportunities in dense locations with strong demographics, technology industries, and excellent public transport connections. We look forward to welcoming our tenants in 2021.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) is proud to announce that it has received the 2019 ENERGY STAR® Partner of the Year Award for its outstanding leadership and demonstrated improvement in energy performance of commercial buildings through a portfolio-wide energy program.

Additional information on LaSalle’s Partner of the Year award can be found here: https://www.energystar.gov/about/content/la_salle_investment_management.

The firm’s accomplishment will be recognized by the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Energy at a ceremony in Washington, D.C. on April 11, 2019.

Eric Duchon, Global Head of Sustainability at LaSalle commented: “This award reflects LaSalle’s continued emphasis on implementing energy efficiency best practices and measures across our business, making our portfolios more environmentally-friendly and resilient, while continuing to deliver superior investment performance for our clients.”

Bill Wehrum, EPA Assistant Administrator for Air and Radiation added: “I applaud LaSalle for earning the ENERGY STAR Partner of the Year Award. Their innovation and leadership enhance America’s economic competitiveness. Reducing costly energy waste improves air quality and public health while protecting the environment.”

The ENERGY STAR Partner of the Year award recognizes ENERGY STAR partner businesses and organizations that demonstrate superior leadership, innovation, and commitment to environmental protection through energy efficiency and ENERGY STAR. For more information about ENERGY STAR’s awards program, visit energystar.gov/awardwinners.

This achievement adds to LaSalle’s track record of sustainability best practices and distinctions. Industry organizations continue to recognize LaSalle for sustainability leadership and maintaining its distinction as an employer of choice. LaSalle has received the following U.S. and global awards in the past year:

• GRESB, UN Principles for Responsible Investment, Task Force on Climate-Related Financial Disclosure
• Green Lease Leaders
• ENERGY STAR Charter Tenant
• P&I Best Places to Work in Money Management

About ENERGY STAR

ENERGY STAR® is the government-backed symbol for energy efficiency, providing simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations—including more than 40 percent of the Fortune 500®—rely on their partnership with the U.S. Environmental Protection Agency (EPA) to deliver cost-saving energy efficiency solutions. Since 1992, ENERGY STAR and its partners helped save American families and businesses nearly 4 trillion kilowatt-hours of electricity and achieve over 3 billion metric tons of greenhouse gas reductions. In 2017 alone, ENERGY STAR and its partners helped Americans avoid $30 billion in energy costs. More background information about ENERGY STAR can be found at: energystar.gov/about and energystar.gov/numbers.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle has acquired Westend Yards, a Munich office property, on behalf of the Encore+ fund, its Pan-European core fund.

Westend Yards is a six-storey office building with a net lettable area of over 31,000m², situated on Hansastrasse in Munich’s Westend district, a major office location adjacent to the CBD with strong public transport and road connections. The property is currently fully let to multiple tenants, including the Fraunhofer Institute, Europe’s largest organisation for applied research and development services with over 25,000 employees. In the long term, LaSalle will explore options for refurbishing or redeveloping Westend Yards to increase the total rental area and upgrade amenities.

The proposed acquisition would increase the Encore+ exposure to the Munich office market by ca. EUR 134 Million, which is a national leader in terms of demand, low vacancy and adherence to LaSalle’s proprietary “DTU+E” criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment. It follows the Fund’s acquisition of the ElseBella portfolio of two office properties in Munich for €169 million in December 2018. With Else also located in the Westend district, 750 metres away on the adjoining Elsenheimerstrasse, Westend Yards represents a second investment for the fund in a submarket subject to particularly high take-up levels and limited immediate and future supply.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is another important acquisition for Encore+ that extends our strategy of increasing the fund’s exposure to the German office market, which we regard as one of the most attractive in Europe in terms of the supply-demand dynamics. Like the ElseBella office portfolio that we recently acquired, Westend Yards is a particularly well-located property which stands to benefit from Munich’s leading take-up and low vacancy rates – even relative to Germany as a whole – and therefore sustainably appreciate by capturing future rental growth. We are pleased to have secured another asset that we expect to deliver strong and stable returns to our investors in Encore+.”

LaSalle worked on the transaction with Hogan Lovells (Legal & Tax), Drees und Sommer, BrandBerger (Technical & Environmental), Colliers International (Valuation), Howden (W&I Insurer) and JLL (Buy-Side Advice & Property Management).

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. 

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) today announced that following a successful 12-year period as CEO for Europe, Simon Marrison will transition to assume a Chairman role for the business. Karen Brennan, Head of Americas Custom Accounts for LaSalle, has been appointed to succeed Mr. Marrison as the firm’s CEO for Europe, effective 30 June 2019. Mr. Marrison will remain in the Chairman advisory role and work closely with Ms. Brennan to ensure a seamless leadership transition.

Under Mr. Marrison’s leadership, LaSalle’s European business has seen significant growth and diversification, doubling its AUM from $10 billion to more than $20 billion during the period. In addition to serving on LaSalle’s Global Management Committee, Mr. Marrison has sat on all European Investment Committees and chaired the European Management Board. Mr. Marrison joined LaSalle in 2001 and has operated six funds in the region, launched the Continental European Separate Accounts business as well as the Debt & Special Situations business that now has a flagship fund series, and grown the firm’s pan-European Encore+ fund to a GAV of more than $2 billion.

In her new role, Ms. Brennan will have overall responsibility for LaSalle’s $22 billion AUM pan-European private equity real estate business and will join LaSalle’s nine-person Global Management Committee. She will be based in London and will also oversee the firm’s teams in the U.K., Paris, Munich and Luxembourg, and travel regularly to the markets in which LaSalle operates and invests. Ms. Brennan joined LaSalle in 1999 and has successfully held a variety of leadership, investment, asset and portfolio management roles across the organization. From 2008-2012, she relocated to the firm’s Singapore and Hong Kong offices where she held the role of Portfolio Manager, ex-Japan, for LaSalle’s Asia Opportunity Funds, and played a critical role in the re-structuring and stabilization of the region’s business following the Global Financial Crisis. More recently, she has led LaSalle’s Americas Custom Accounts group, which includes some of the firm’s largest and longest-standing institutional investor clients and has increased its AUM over 30% to nearly $10 billion.

Jeff Jacobson, LaSalle Global CEO, said: “Simon has played a pivotal role in LaSalle’s growth and success in Europe over his decade plus leadership of the business. As he elects to transition from day-to-day management of the business, I am extremely pleased that we have such a strong successor in Karen Brennan and that illustrates our commitment to succession planning and providing career opportunities to our top talent throughout the world. I am confident that Simon’s mentorship and Karen’s proven investment, client and leadership skills will lead LaSalle to continued growth and success in Europe.”

Simon Marrison, outgoing Europe CEO of LaSalle, commented: “I believe that it is important to refresh leadership in any business and I am genuinely proud of the growth and improvement our team have achieved over the past 12 years. With the business on such firm footing, now is an opportune time for a talented leader with a global perspective to take it to the next level, and I look forward to working closely with Karen in the future to build on our collective momentum.”

Karen Brennan, incoming Europe CEO of LaSalle, added: “It is an honor to be the next leader of our European business, which has experienced significant growth under Simon’s leadership. I am eager to work with the teams across the region to build on the foundation that has been set, as we seek to advance our global position and produce superior investment performance on behalf of our clients.”

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

Tekka Place, an upcoming hospitality-and-retail integrated development comprising a ten-storey main block and seven-storey annex block with rooftop deck at 2 Serangoon Road, is on schedule for completion by the end of the year. It celebrated the milestone at the topping out ceremony at the site today graced by Minister for Communications and Information, Mr S. Iswaran.

From left to right:
Mr Rajachandra Kumar, Chairman of the Little India Shopkeepers and Heritage Association (LISHA); Mr Tan Wey Pin, Managing Director, MD, Lum Chang Building Contractors; Mr Raymond Lum, Executive Chairman, Lum Chang Holdings; Mr S. Iswaran, Minister for Communications and Information, Singapore; Mr Mark Gabbay, CEO and Chief Investment Officer – Asia Pacific, LaSalle Investment Management; Mr Kelvin Lum, Director, Lum Chang Holdings; Mr Kevin Goh, CEO, Ascott International

Construction of the development, awarded by the Lum Chang-LaSalle joint venture to Lum Chang Building Contractors, commenced in mid-2017. With structural works now concluded, the developers will focus on the architectural and services works of the development, in preparation for opening in the fourth quarter of 2019.  

By then, this newest development at the gateway to Little India, will not only cater to the needs of nearby residents, office workers and commuters of both the North East and Downtown MRT lines, its housing of the new Citadines Rochor serviced residences, will also attract new international visitors to this cultural and heritage precinct. Its completion is timely given that Singapore tourism experienced its third consecutive year of growth, where visitor arrivals grew 6.2% in 2018 to reach 18.5 million, and numbers are set to grow in 2019 ^[1].    

As of today, close to 50% of the net lettable retail space in the integrated development has been committed or is under advanced negotiations. Mr Kelvin Lum, Director at Lum Chang Holdings and spokesperson for the joint venture, said: “We are excited about the myriad of possibilities that Tekka Place will bring to Little India. Even though we have been approached by reputable local and international retail and F&B brands, we are selective in curating Tekka Place’s retail mix to both reflect and build on the unique cultural identity of the Little India heritage precinct, and to complement the shopkeeper businesses in the area.”  

Occupying over 10,000 square feet in the mall, is XinTekka, a new food hall concept by Mr Andrew Tan, the veteran restauranteur and F&B consultant who brought fresh concepts such as PasarBella and the multi-concept Japanese eatery, Eat at Seven, at Suntec City, to Singapore. Offering a spread of local culinary favourites with a twist, XinTekka is set to be Singapore’s newest dining destination.  

Mr Andrew Tan said, “XinTekka is a platform to showcase local food and products, past and present. It will offer reinterpretations of traditional local dishes that will renew our love for our iconic local food. It aims to create an eclectic, walkable urban adventure, with something for everyone while simultaneously serving as an incubator for local talent and independent start-ups.”

As part of its commitment to integrate with the Little India community, the joint venture has been actively participating in events organised by local stakeholders. For example, on top of sponsoring the Deepavali and Ponggol celebrations at Little India, the developers have also committed to a three-year main sponsorship of Art Walk Little India, an event organised by the Singapore Tourism Board (STB) and LASALLE College of the Arts.  One aspect of the sponsorship involves artists from the College producing an artwork and a wall mural for installation at Tekka Place to commemorate its official opening.  

Said Mr Rajakumar Chandra, Chairman of the Little India Shopkeepers and Heritage Association (LISHA), “Since the start, the owners have been proactively engaging LISHA, seeking our feedback and providing regular project updates. We very much look forward to the forthcoming completion of Tekka Place, which will add to the revitalisation of the precinct as well as the dynamism of Little India.” 

^[1] Source: Singapore Tourism Board media: Third Consecutive Year of Growth for Singapore Tourism Sector in 2018, dated 13 February 2019 

About Tekka Place  

Boasting the most strategic location in Little India, Tekka Place is set to be the new face of an area rich in culture, yet offering the best of modernity. Comprising a 10-storey Main Block and 7-storey Annex Block, the integrated development includes 320 serviced residence and an outdoor rooftop area for delightful F&B choices, along with a diverse mix of 80 curated retail outlets. In partnership with the Singapore Tourism Board and local associations, Tekka Place will also celebrate the rich heritage of the area with a space dedicated for events and activities. For more news and information, visit www.tekkaplace.sg. 

About Lum Chang Holdings Limited  

Lum Chang Holdings Limited was founded in the 1940s and has been listed on the Mainboard of Singapore Exchange since 1984. With its origin in construction, the Group has since evolved and grown to include businesses in property development and investment. Its construction projects span the spectrum of the industry and includes multibillion dollar civil, building and infrastructural projects both locally and overseas, while its property development portfolio includes exclusive addresses in Singapore prime residential districts and West Malaysia’s choice residential areas. For more news and information, visit www.lumchang.com.sg 

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

According to LaSalle Investment Management’s Investment Strategy Annual (ISA) 2019, the fundamental drivers of real estate occupier markets are likely to retain their “just right” status in 2019. However, investors should expect an eventual cyclical inflection, and watch for signs of late-cycle excesses and risk taking. In 2019, investors are expected to make investment decisions in an environment of rising volatility and uncertainty. If a recession comes, leased real estate will not be immune, but it will be a “low beta”, or less sensitive financial asset.

Jacques Gordon, Global Strategist for LaSalle, said: “In order to mitigate these potential risks, the construction of real estate portfolios that employ defensive (low beta) positioning while still dedicating a portion of investment to higher (alpha-seeking) return strategies is recommended in LaSalle’s ISA 2019.”

In Asia Pacific, investors face macro risks including the U.S.-China trade war and China’s ability to sustain economic growth. However, the latter is tempered by China’s capability to introduce monetary, fiscal and regulatory stimuli, and strengthen its trade relations with the rest of the world, particularly within trade partners in Asia Pacific to offset the negative impact of trade tariffs should the trade war escalate.

As noted in LaSalle’s ISA 2019, global economic growth is cooling. With most Asia Pacific countries at the mature stage of the economic cycle, investors also should expect the region’s pace of economic growth in 2019-2020 to be below the 2017-2018 peak levels, giving rise to some risk of investor sentiment vulnerability in the capital markets. Nevertheless, labor markets in major Asia Pacific economies are healthy. Bank, corporate and household balance sheets are generally healthier than the pre-Global Financial Crisis (“pre-GFC”) period, with a few exceptions. All of the above puts the region in a good position to handle an economic slowdown if one occurs. If a recession comes to any of the major APAC economies, LaSalle believes it will be at a much lower risk level than during the GFC.

Major central banks globally are now walking on a tightrope between loose and tight monetary policies. Key messages from major central banks suggest that rate hikes are now on the back burner, as concerns over economic slowdown or recession risks rise. As a result, the risk of rising interest rates substantially pushing up capitalization rates and reducing real estate values is low. Most importantly, Asia Pacific real estate occupier and capital markets are generally more correlated with their respective domestic macroeconomic environments than with external shocks. Rental growth in most major Asia Pacific markets in 2019–21 is expected to remain positive and mostly at or slightly below their historical averages.

Over the long term, the region is poised to grow faster than other parts of the world as it transitions from an export-led region to one based more on domestic consumption, intraregional trade and tourism, urbanization and steady rise of the middle class population. The commercial real estate markets in the region are expected to remain attractive, as the region’s large and strong domestic demand base and the relatively high growth prospects by global standards are expected to continue to attract occupiers and investors alike.

Elysia Tse, Head of Asia Pacific Research and Strategy at LaSalle, said: “Supply-demand dynamics are largely healthy in major Asia Pacific real estate markets. Nonetheless, investors should expect lower returns in 2019 than in the past few years and some divergence in strong versus weak markets/sectors and primary versus secondary asset quality. As volatility increases, quality assets and flexibility become more important. Holding period and floor plan flexibility, early loan extensions, or early lease renewals all represent the optionalities needed to survive a downturn. Most importantly, preserve some capital, when possible. Be ready to take advantage of dislocation, should it occur in the real estate sector.”

Real Estate Opportunities and Investment Themes in Asia Pacific

Industrial: The outlook for the industrial sector in Asia Pacific remains favorable as demand is supported by domestic consumption and the growth of e-commerce, which is stronger than the projected GDP growth. However, supply is generally increasing in Asia Pacific markets, which requires close local-level monitoring. Market yields for logistics remain much higher than those of office properties, although they have compressed. For low risk investors, LaSalle favors logistics properties with credit tenant leases. The attractive development yield spreads are also supportive of development or build-to-core strategies, particularly in China Tier 1 cities and their satellite cities, select China Tier 2 cities, as well as the greater Seoul area. For these higher return strategies, submarket and site selection are increasingly important to manage the supply risk.

Cold storage is also an emerging and fast-growing segment in the industrial sector, whilst cold warehousing is still at an early stage of institutionalization. The location of cold storage warehouses is more important than for “dry” warehouses. LaSalle favors well-located cold storage warehouses for higher return strategies, but only when investors have a well-defined exit plan and experienced asset management capability to assist in the execution of asset-level business plans.

Office: While pricing and capital market demand for major Asia Pacific office markets are near peak levels, office occupier markets in Asia Pacific are at different stages of the occupier market cycle. Technology companies and co-working operators are boosting demand and reducing vacancy rates in major Asia Pacific office markets (e.g., Sydney, Shanghai, and Tokyo). The inflexibility of the traditional office leasing model sometimes does not align with the dynamic growth that many different firms — both large and small — are expecting, and LaSalle sees the co-working model likely to become a permanent option in major office markets across Asia Pacific. However, the performance of co-working operators has not been tested in a downturn. LaSalle recommends limiting the proportion of co-working and technology tenants to be a minority of an office portfolio (with variations at the asset level), and to focus on tenant credit and covenants for the majority of a property portfolio.

Retail: Investor sentiment for the retail sector is generally weaker than that of the industrial and office sectors. Domestic retail demand is expected to be more resilient in the region, while the tourist trade could be more volatile, although it remains a fast-growing segment in many gateway cities. E-commerce is contributing to the divergence between dominant, better-located and better-configured retail centers and inferior locations and outdated centers. However, in select markets, retail centers are also benefiting from online retailers who are extending their fast-growing on-line distribution channels to include brick-and-mortar stores. LaSalle is highly selective in the retail sector, with a tilt towards non-discretionary retail centers with a high tenant mix in grocery, pharmacy, food and beverage, and services located in strong residential catchment areas, particularly in Japan, Singapore, Hong Kong, and Tier 1 cities in China for core or value-add to core strategies.

Residential: Record or cyclically high residential prices in the region and the changing lifestyles of young households are driving the regeneration of multifamily markets, particularly in urban neighborhoods. For core investors, LaSalle favors urban rental apartments in Japan with excellent access to workplaces and amenities.

The for-sale residential market in Australia is particularly at risk with early signs of home price softening. Household debt in Australia is one of the highest in the region. When coupled with rising borrowing costs and tighter bank lending, home prices could correct further, particularly in the condo segment where supply is still at a record high. In Hong Kong, home prices have tripled since December 2008. LaSalle expects residential prices in Hong Kong to adjust moderately in the near term, but much less severe than the correction in 1997-98. For investors who can tolerate higher risk, LaSalle recommends monitoring the for-sale residential sectors in Australia for potential entry opportunities, if residential and land prices are adjusted.

Hotel: Asian tourists, particularly the Chinese, are the key demand drivers of Asia Pacific hotels — particularly in Australia, Hong Kong, Japan, South Korea and Singapore. Depreciation of the Chinese yuan is unlikely to deter Chinese outbound travel to other major Asia Pacific tourist destinations. Investors with high risk tolerance could target hotel refurbishment opportunities near major tourist attractions, focusing on location selection and identifying the hotel segment that has a mismatch of demand and supply.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) today announced that its U.S. value-add fund, LaSalle Income & Growth Fund VII (“Fund VII”), has acquired Rienzi at Turtle Creek, a 152-unit high-rise rental apartment community in the affluent Turtle Creek submarket of Dallas, Texas. LaSalle identified this as a unique opportunity for Fund VII to acquire a high-quality multifamily asset in a strategic market known for its strong population and job growth.

Joe Munoz, Chief Investment Officer for LaSalle’s Income & Growth Funds, commented, “Rienzi at Turtle Creek aligns well with the investment strategy of our U.S. value-add fund series, and we’re thrilled to add this property to the Fund VII portfolio. This transaction offers a compelling opportunity for us to acquire a well-located, high-quality multifamily asset at a discount to replacement cost and execute a thoughtful capital improvement plan to realize upside potential.”

Summit Walia, Managing Director of Acquisitions at LaSalle, stated, “Rienzi at Turtle Creek was particularly attractive to us in that it was originally constructed as a condominium, offering condo-level finishes and amenities at competitive rental rates. By addressing deferred maintenance and completing renovations to the common areas and unit interiors, we believe we can deliver a desirable product that drives rent growth while offering rates that represent a significant discount to those at comparable new construction high rises in the area.”

Built in 2002, Rienzi at Turtle Creek features large floor plans averaging 1,300 square feet and boasts attractive finishes including 10- to 12-foot ceilings, extra-large walk-in closets, granite countertops, recessed lighting, hardwood flooring, crown molding and balconies in the majority of units. Community amenities include a swimming pool and spa; a fully equipped 24-hour fitness center; a garden terrace with grilling area; an on-site dog park; concierge services; controlled garage access; and valet parking. The property is located in close proximity to major employment centers – including Uptown and Downtown Dallas, Medical District, Baylor University Medical Center and Dallas Love Field – as well as abundant entertainment and retail options including Reverchon Park, Knox Henderson and The Shops at Park Lane. The adjacent Uptown neighborhood has also seen significant development in recent years, with an additional 2.3 million square feet in office development due to deliver by 2020, which has resulted in an influx of new retail and restaurant amenities.

The Dallas-Fort Worth (“DFW”) Metroplex is a thriving metropolitan area with a population of 7.4 million, that boasted a gross metro product (“GMP”) of $535 billion in 2017, marking a 6.3 percent increase on its GMP in 2016, according to Federal Reserve Economic Data. The DFW Metroplex boasts strong job growth, having added 109,400 jobs between October 2017 and October 2018, and the metro is home to several Fortune 500 companies including Exxon Mobil, AT&T, American Airlines, Tenet Healthcare, Southwest Airlines, Kimberly-Clark, Texas Instruments, D. R. Horton, Dean Foods and Dr. Pepper Snapple, among others. The robust population size combined with sustained job growth and strong presence of top corporations support Dallas’ multifamily market and drive consistent demand for high-quality product.

About LaSalle Income & Growth Funds

The LaSalle Income & Growth funds are the firm’s flagship closed-end U.S. value add fund series, with the first fund in the series launched in 1996. Aggregate fund series capital commitments total $3.4 billion, with approximately $6 billion invested in over 100 investments across all funds in the U.S. series. Fund VII seeks to acquire under-managed, under-capitalized, or mispriced assets to be repositioned as core assets. Property level-investment strategies include lease-up, renovation/repositioning and ground-up development. Fund VII began acquiring assets in 2016.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle announces that the value of its actively managed assets under management in Continental Europe has risen to €7 billion, representing a year-on-year net increase of €1 billion. The German KVG business currently at €1.18 billion AUM, having grown by 23 per cent in 2018.

LaSalle operates three distinct Core, Core+, and Value-Add investment strategies in Continental Europe, making direct private-equity investments in commercial property on behalf of institutional clients whose capital is managed across nine active mandates, including its flagship pan- European open-ended Fund, Encore+. The German market accounted for €330 million of LaSalle’s Continental European investments in 2018, including the acquisition of the ElseBella office portfolio in Munich for €169 million by Encore+, maintaining the upward trajectory in the value of LaSalle’s annual investments in Germany. In the French market, in 2018 LaSalle passed the threshold of having invested €1.5 billion in properties over the past three years, including an iconic core retail asset in Toulouse for E-REGI for €24 million.

Having already signed a record value of new leases across its Continental European portfolio in 2017, LaSalle saw a year-on-year increase of over 200% of rent generated. With office supply remaining scarce and e-commerce continuing to drive occupier demand for logistics properties in the firm’s target Continental European markets, LaSalle expects to achieve further rental growth across its portfolio while continuing to acquire office and logistics assets in 2019.

Philip La Pierre, Head of Continental Europe at LaSalle Investment Management, said: “This has been a record year for our business with strong performances across all of our accounts and are starting the year strong with a secure pipeline of €500 million. Moreover, we have effectively deployed capital for our clients across various sectors on the Continent and are confident that localised real estate markets will remain strong in 2019 for further investment.”

In 2018, LaSalle assumed sole responsibility for the management of Encore+, the open-ended Continental European real estate fund focused on improving assets and creating growth by actively managing assets to deliver superior income returns, which had previously been jointly managed by LaSalle and Aviva Investors. Encore+ is part of MSCI’s Pan-Europe Property Funds Index (PEPFI) and was recently announced as the best performing fund in the Index for 2017 on both a one- and five-year basis. In addition, the LaSalle E-REGI European commingled fund recorded a substantial increase in its sustainability credentials last year, as measured by the 2018 Global Real Estate Sustainability Benchmark (GRESB), the global sustainability benchmark for real assets.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) today announced the completion of the new 110 High Street Lobby project within 50 Post Office Square (50 PO), an iconic Class A office tower located in Boston’s Financial District. Following its purchase of 50 PO in 2015, the firm embarked on a multi-faceted capital enhancement plan that has delivered a dynamic new lobby and High Street entrance designed by Elkus Manfredi Architects, and features a first-of-its-kind 100-foot digital Boston Media Band Experience that is programmed with three digital art modes that react to traffic in the lobby in a variety of fun and interactive ways. Created by ESI Design, the media band is designed to extend the experience of the building into the street, while simultaneously bringing the energy of the city inside.

At 110 High Street, LaSalle recently signed a 117,000 square foot lease with Medidata Solutions (NASDAQ: MDSO), a global life science technology company. Members of Medidata’s SHYFT Analytics division will immediately occupy the space. SHYFT Analytics is the leading platform for commercial and real-world data analytics with products designed specifically for the pharmaceutical, biotech, and medical device industry. Medidata and SHYFT have plans to continue to grow in Boston. The building’s occupancy now stands at 100%.

Dave Martel and Gil Dailey of Newmark Knight Frank represented LaSalle, and Lisa Kiell and Kelly Lockberg of JLL represented Medidata Solutions for the lease agreement.

Kristy Heuberger, Head of U.S. Asset Management at LaSalle, commented: “We are very pleased that our 50 Post Office Square/110 High Street building has been able to capture both Boston’s rich history and bright future through its diverse tenant base and unique designs. We are equally excited to welcome our new tenant Medidata and SHYFT to 110 High Street as well, as they will bring a vibrant presence and energy that will complement the building’s marquee location in the Financial District.”

Mark Sardegna, Principal at Elkus Manfredi Architects, added: “Elkus Manfredi Architects is honored to contribute to the re-invention and newest chapter of this majestic Art Deco icon. This new environment blurs the lines between indoor and outdoor to showcase the interactive media experience and engage the tenants, visitors and the community. It’s a project that embraces history while stepping with confidence into the future of our city.”

Edwin Schlossberg, President & Principal Designer of ESI Design, said: “Our goal at 110 High Street was to transform this iconic building’s new entrance into a unique experience. The Boston Media Band centers on the flow of the city and activates the lobby, plaza, and surrounding streetscape with movement and personality. The first and largest installation of its kind in Boston, it responds to the presence of people with moments of surprise and delight. By breaking the barrier between inside and outside, the installation broadcasts the building’s new identity to the street and draws people in.”

LaSalle Investment Management acquired 50 Post Offi­ce Square in December, 2015 on behalf of a U.S-based separate account client. When underwriting the opportunity to acquire the property, the company saw it as a high-quality, substantially-renovated historic offi­ce tower that is exceptionally well located in the Boston CBD’s Financial District within immediate proximity to South Station, numerous area amenities and overlooking a popular and heavily-tra­cked public park. The property offered a compelling value enhancement opportunity to fully renovate the building’s second lobby, at 110 High Street, as a means to lease the remaining 19% of low-rise vacancy.

Originally built in 1947, the building’s high-quality, Art Deco design had great bones and structure to pursue an innovative renovation that would attract large tenants in today’s evolving business landscape. LaSalle crafted and embarked on a renovation plan with a vision to create a building within a building. The new entrance would have its own identity and offer access on the High Street side of this highly recognized building.

LaSalle partnered with best-in-class vendors to execute the re-imagined 110 High Street Lobby, including:

Architecture

Elkus Manfredi Architects

Development Services

Turner Construction
JLL

Boston Media Band Experience

ESI Design
Electrosnoic

Additional Partners

Dimensional Communications, Inc
AV&C
Arbitrarily Good Productions
Halvorson Design Partnership
McNamara / Salvia, Inc.
C3 – Commercial Construction Consulting, Inc.
Van Deusen Associates (VDA)

About Elkus Manfredi Architects

Elkus Manfredi Architects is a full-service international design practice focused on architecture, master planning, urban design, historic preservation and interior architecture. Its diverse portfolio of work includes planning and design for environments of work, living, learning, play, and innovation. The firm has a legacy of design excellence and is recognized worldwide for its work in mixed-use place-making that fosters community, connection, sustainability and strategic workplace solutions. For more information, visit https://www.elkus-manfredi.com/, and Facebook, Twitter, Instagram, and LinkedIn.

About ESI Design

ESI Design transforms places into dynamic experiences that engage audiences, solve complex challenges, and deliver lasting results. From our roots reinventing the Brooklyn Children’s Museum into one of the country’s first interactive museums, ESI Design has defined the field of experience design for over forty years, fundamentally changing how people connect with brands, organizations, cultural institutions and, most importantly, each other. A collaborative, in-house team of designers, strategists, storytellers, technologists, artists, and problem-solvers work with you from day one, until it’s done. ESI Design seamlessly weaves the physical and digital worlds together to create immersive experiences with enduring impact. Recent clients include eBay, the Ellis Island National Museum of Immigration, Comcast, PNC Bank, Beacon Capital Partners, and the Edward M. Kennedy Institute for the U.S. Senate. For more information, connect with ESI Design: Twitter, LinkedIn, Facebook, Vimeo, YouTube and Instagram. (www.esidesign.com)

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle has acquired the property General Lacy 23 in Madrid, a multi-award winning 19th-century office building. This was acquired on behalf of a separate mandate with a German pension fund. 

The General Lacy 23 building is located in the heart of Madrid’s Méndez Álvaro district, south of the central business district of the Spanish capital, is a multi-award winning 19th-century office building. Originally a tobacco factory and converted into an office building two decades ago, the property is currently being modernized as a ‘green building’. The sole tenant from April 2019 is the Spanish oil company Repsol, who will occupy the space with one of their subsidiaries as the headquarters is located just 850m away on Calle de Méndez Álvaro.

The Méndez Álvaro neighborhood, between Atocha and the M-30, is experiencing a strong dynamism as the headquarters of companies. Besides Repsol other corporates such as Amazon, Adif, Mahou, CLH or Ericsson have also decided for this submarket where further major projects are going to take place.

Uwe Rempis, Head of Fund Management Germany at LaSalle Investment Management, comments: “Thanks to the high quality of the building, with its flexible use for both single and multiple tenants, combined with its A-location on a European real estate hotspot, the object fits perfectly into the fund strategy. We are very happy that we have succeeded in adding this exceptional building to our portfolio. “

Hogan Lovells, Deloitte and Tassl acted as advisors to the buyer.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) and William Macklowe Company (“WMC”) announced that they have completed a long-term lease agreement with Memorial Sloan Kettering for 100% of the approximately 75,000 square feet of space at 333 E. 61st Street, a new six-story medical office building located in Manhattan’s Upper East Side.

In March of 2018, LaSalle acquired a majority interest in the property through a joint venture with WMC on behalf of its U.S. core open-end real estate fund, LaSalle Property Fund (“LPF”).

Steve Bolen, Managing Director and U.S. Sector Head for Medical Office at LaSalle, commented: “We are pleased to have Memorial Sloan Kettering Cancer Center, a world leader in the diagnosis and treatment of cancer, as the entire-building tenant at 333 East 61st Street. This project represents a continuation of our successful healthcare real estate partnership with the William Macklowe Company, a leading owner/developer of commercial, healthcare and residential properties in New York City.”

Billy Macklowe, CEO of William Macklowe Company, commented: “We are thrilled to meet the deep demand for high quality medical facilities in one of the most supply constrained sub-markets in the country, and be aligned with a world class institution such as Memorial Sloan Kettering Cancer Center. 333 East 61st Street follows our successful conversion of 156 William Street into lower Manhattan’s premier dedicated medical office building and continues our co-investing relationship with LaSalle Investment Management.”

Jim Garvey, Portfolio Manager for LaSalle Property Fund, commented: “333 East 61st Street is an exceptional fit for our portfolio, enabling LPF to increase its exposure to class A medical office in top markets. This investment directly aligns with our strategy of owning well-located core assets that offer stable cash flows and upside potential.”

Situated in what is commonly referred to as “Hospital Row,” the immediate trade area contains some of the world’s most prestigious hospitals, medical schools, research centers and outpatient facilities, including New York-Presbyterian Weill Cornell Medical Center, Weill Cornell Medical College, Memorial Sloan Kettering Cancer Center, Hospital for Special Surgery and Rockefeller University. The new 75,000-square-foot medical facility will replace the existing structure, and meet the area’s strong demand for purpose-built clinical, research and administrative space.

Since 2001, LaSalle has completed over 90 medical office building investments, representing 6.5 million square feet and a GAV of $2.25 billion, across three dedicated MOB funds, as well investments in its diversified commingled funds and separate accounts.

About LaSalle Property Fund

LPF invests in and manages a diversified portfolio of high quality, stabilized real estate and real estate-related assets in the industrial, multifamily, office and retail sectors in top markets across the United States. Drawing from LaSalle Investment Management, Inc.’s 35-year record of accomplishment of core real estate investment on behalf of sophisticated institutional investors, LPF aims to provide attractive risk-adjusted income returns with the potential for superior long-term capital growth through an investment process and platform that leverages LaSalle’s industry-leading market research.

About William Macklowe Company

William Macklowe Company (WMC) is a privately owned, vertically integrated real estate investment platform focused on high quality assets and value creation lead by William Macklowe. WMC, and its principal’s activity at its predecessor firm, have accounted for over $15 billion in real estate transactions as a prolific owner, manager, acquirer and developer of prime Manhattan properties over the past 20 years.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

The developers of Milburngate, the mixed-use development, have secured a £120 million forward-funding commitment from LaSalle Investment Management, which will enable the delivery of the first phase of the Durham City Centre project.

In addition, Durham County Council has taken a 35-year lease of the entire first phase of Milburngate and will become landlord to all first phase tenants, creating a new revenue stream for the authority as well as supporting regeneration in the city.

Durham County Council’s lease also includes Phase One’s 5,000 square metres speculative office building, creating capacity for more than 400 new jobs, alongside 153 built-to-rent apartments, supporting Durham’s requirement to provide high-quality city centre work and living space.

In December 2018, detailed planning permission was granted for Phase One, which covers 70 per cent of the entire six-acre mixed-use development. The developers are in the final stages of reviewing shortlisted construction tenders and will select their construction partner in the coming weeks. Completion of the first phase is targeted for early 2021.

Tenants already secured for Phase One include nationally-recognised leisure operators such as the boutique cinema company Everyman, restaurant brands Marston’s Pitcher & Piano, Bar + Block, Miller and Carter and a 92-bed flagship Premier Inn hotel.

Milburngate is being delivered in joint venture by Durham-based property business Arlington Real Estate and the Richardson family, who together have already successfully delivered a number of strategically-important regeneration projects across the region, including Freemans Reach in Durham City centre.

Robin James, Head of Long Income Transactions at LaSalle Investment Management, said: “We are delighted to have entered into this long-term partnership with Durham County Council, Arlington Real Estate and the Richardson family. This mixed-use commercial and residential development will create job opportunities in Durham and is an excellent example of where our client’s capital can be used to deliver major city centre regeneration schemes. We will continue to invest in such projects and have significant funds to deploy in other assets offering long-term, inflation-linked income streams.”

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle announces the commencement of the development of a logistics project in Tigery, France, subsequent to the acquisition of the plot by LaSalle’s Encore+ Fund. The development is scheduled for completion in Q4 2019.

The state of the art logistics warehouse is being constructed on a speculative basis and will have ca. 33,500sqm. The site is located within the Sénart logistics hub, the largest in the Paris region and second largest in France, comprising 1.4 million sqm. Located 37 km southeast of the capital, the Tigery site is close to Orly airport and benefits from excellent road access to both Paris and the southern cities of France via the Francilienne Ring Road and the A5 motorway. LaSalle will work in partnership with French developer JMG on the delivery of the logistics facility.

The Tigery development was agreed as part of a portfolio project signed with JMG in January 2018, which also included the development of a second site in the Isle D’Abeau, near Lyon, the largest logistics location in France. The development of the Isle D’Abeau site was completed in August 2018.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “We’re delighted to be making progress towards the delivery of a second Grade-A French logistics site in an excellent location, following the agreement for a portfolio development project that we struck with JMG last year and the completion of the Isle D’Abeau asset last summer. The Tigery site shares the same strong fundamentals of solid take-up, low vacancy rates and scarcity of quality supply as our property outside Lyon, offering further attractive portfolio diversification.”

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. Encore+ has been a leading Fund in MSCI’s Investment Property Databank (IPD) Pan-Europe Property Funds Index (PEPFI) in terms of performance and it was recently announced as the best performing Fund in the Index for 2017 on both a one- and five-year basis. LaSalle assumed sole responsibility for the management of the Fund in late 2018.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle” or “the company”) today announced it has completed the majority acquisition of the $1.2 billion debt fund business of Latitude Management Real Estate Investors (“Latitude”).

Upon closing, the Latitude business has been transferred into LaSalle’s North America Private Equity platform and has been re-named LaSalle Mortgage Real Estate Investors (LMREI). Additional information can be found at www.lasalle.com/lmrei.

As previously announced, LMREI President and CEO Glenn Sonnenberg and Executive Vice President Chip Sellers, along with Managing Directors Craig Oram and Brett Mayer, will continue to lead the day-to-day business and LMREI’s 20 employees will continue to operate under the same structure, systems and processes to provide continuity for all the firm’s stakeholders. The senior management team has retained an ownership position in LMREI, executed multi-year employment agreements and will be actively involved in the ongoing strategy, product development and growth planning process.

Jason Kern, LaSalle Americas CEO, said: “We are pleased to welcome our new colleagues to LaSalle, and look forward to advancing our debt capabilities into what has become a strategically important investment allocation for our clients. LMREI’s cultural alignment and fiduciary-focused mindset will serve the broader firm well as we seek to expand the platform in the years ahead.”

Glenn Sonnenberg, LMREI President and CEO, added: “Joining LaSalle affords us a tremendous opportunity to build on the strong track record we have established over the past 19 years. We are enthused by the growth prospects ahead and will remain focused on adhering to the same investment rigor and commitment to client service that have guided us to date.”

LMREI is a commercial real estate lender providing short term, floating rate loans against middle-market commercial real estate assets owned by sponsors seeking targeted real estate solutions. LMREI’s primary focus has been originating new bridge loans for value-add and transitional properties in sustainable growth markets throughout the United States. LMREI has managed a successful series of commingled debt funds, the fourth and most recent having a total equity raised of approximately $480 million. LMREI’s seasoned management team and vertically integrated platform has successfully closed over $3 billion in financings across all primary commercial real estate property types.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle has acquired ElseBella, a portfolio of two office properties in the Westend and Arabellapark districts of Munich, on behalf of the LaSalle Encore+ Pan European Fund from AXA Investment Managers for €169m.

Else comprises two office buildings with a combined rental area of over 25,000m² situated on Elsenheimerstrasse in Munich’s Westend district, a major office location adjacent to the CBD, with outstanding public transport and road connections. Bella is a seven-storey office building with a lettable area of over 15,000m² located in the heart of Arabellapark, one of Munich’s most popular and established office submarkets to the north-east of the CBD. Both properties are let to multiple tenants and Else has potential for redevelopment.

The Munich office market is a national leader in terms of demand, low vacancy and adherence to LaSalle’s proprietary DTU+E criteria assessing assets’ long-term resilience to changes in demographics, technology, urbanisation and the environment. Within this market, the Westend and Arabellapark submarkets are subject to particularly high take-up levels and limited immediate and future supply.

David Ironside, Fund Manager of Encore+, LaSalle Investment Management, said: “This is an exciting acquisition for Encore+ that increases the fund’s exposure to the German office market whilst also meeting the fund’s criteria of investing in assets in attractive locations with fundamentals which we believe have the potential to underpin future rental growth. With Munich currently exhibiting some of the highest take-up and lowest vacancy rates in Germany, we expect these properties in two of the city’s most established office submarkets to deliver strong and stable returns for Encore+ investors in the long term.”

LaSalle worked on the transaction with Linklaters (Legal/Tax), Unicredit (Lender), JLL (Technical, Non Rec’s & Buy-Side), Howden (W&I Broker), Ambridge (W&I Insurer), Oliv Architekten (Architect) and CBRE (Valuation). AXA Investment Managers was advised by Colliers (Broker), Möhrle Happ Luther (Legal), BrandBerger (Technical) and Sabine Houben (Tax).

The investment strategy for Encore+ focuses on improving assets and creating growth by seeking opportunities to actively manage assets to deliver superior income returns. Encore+ is part of MSCI’s Pan-Europe Property Funds Index (PEPFI) and it was recently announced as the best performing fund in the Index for 2017 on both a one- and five-year basis.

About LaSalle Investment Management 

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle announces that it contracted 77 commercial real estate transactions valued at £3.33 billion across the UK in 2018 and forecasts that UK real estate will remain an attractive asset class to institutional investors in 2019, despite macroeconomic uncertainty associated with the Brexit process.

Making direct investments in UK commercial property on behalf of institutional clients from the UK and around the world, LaSalle deployed £2.29 billion across 24 acquisitions while generating £1.04 billion through 53 sales in 2018, compared with a total transaction value of £1.24 billion in 2017. These transaction figures serve to underline the continued resilience of the UK real estate market in the face of political risk, with a total of c£55 billion in UK commercial property transactions in 2018 exceeding the 10-year average of £44 billion according to data from JLL.

Office properties constituted 67 per cent of LaSalle’s UK acquisitions of which the London market accounted for 94 per cent. The sustained demand for London office property is symptomatic of how the capital has resisted leakage to competing European cities and continued to receive strong take-up, with LaSalle’s investment strategy remaining underpinned by the firm’s proprietary analysis of which specific commercial submarkets in London are best placed to achieve rental growth. Meanwhile, alternatives (e.g. parking, healthcare, student housing) accounted for 20 per cent of capital deployed but just 7 per cent of LaSalle’s exit proceeds, continuing LaSalle’s long-term shift towards increased exposure to alternative assets that demonstrate greater resilience to the challenges facing retail and industrial properties.

The proportion of capital deployed by LaSalle into UK commercial property classified as ‘long income’, defined as assets that generate ten year plus contracted terms and an element of predictable inflation-linked cashflow, rose to 26 per cent in 2018. The increase was driven by LaSalle targeting irreplaceable long-let assets to safeguard against market uncertainty, as well as demand from defined-benefit pension scheme clients for low-volatility, predictable income flows that match their liabilities while also generating higher yields than UK sovereign debt. With over £7 billion in institutional capital estimated to have been allocated for investment into long-income assets in 2019, demand for this asset type looks set to persist irrespective of the outcome of Brexit.

Julian Agnew, UK Chief Investment Officer at LaSalle Investment Management, said: “While we believe the most likely outcome of the current political situation to be a ‘Long Hard Brexit’, entailing a loose framework for future trade with the EU that’s fleshed out during the transition period, investors in the UK clearly remain faced with a significant degree of uncertainty. However, in the medium- to long-term we believe that UK real estate will remain attractive compared to other asset classes, that UK property will continue to attract international capital, and that not only London but also other cities such as Bristol, Birmingham, Edinburgh, and Manchester – all of which rank highly on our proprietary analysis of the UK regions’ preparedness for changes in Demographics, Technology, Urbanisation and the Environment – will continue to perform well.”

Chris Lewis, Head of Transactions for the UK at LaSalle Investment Management, said: “We have identified emerging and highly attractive opportunity sets within the UK commercial real estate market for our clients and are pleased to have been able to both deploy capital effectively and realise proceeds through a strong exit pipeline in 2018. We continue to target specific London ‘villages’ where we believe the fundamentals to support rental growth are strongest, while significantly growing land disguised as income as a portfolio of long-income investments with inflation-linked cashflow.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.

LaSalle Investment Management (“LaSalle”) announced today that it has acquired San Melia (“the property”), a 488-unit luxury multifamily community in Phoenix, on behalf of its U.S. core open-end real estate fund, LaSalle Property Fund (“LPF”). The Mark-Taylor-built property, situated on 28 acres in Phoenix’s desirable Ahwatukee Foothills neighborhood, presented an opportunity for LaSalle to acquire a well-located multifamily asset in a fast-growing submarket marked by low supply.

The Phoenix metropolitan area remains a national leader in job and population growth, both key drivers of increasing demand for quality multifamily properties. The area has seen its labor force increase by nearly 18 percent over the last five years while its unemployment rate dropped by nearly 3 percent, and prominent employers including JP Morgan Chase, Wells Fargo and Intel are finalizing plans to bring a total of 14,000 additional jobs to the region. Notably, while Phoenix has traditionally been dominated by an aging population, recent migration and population growth patterns have skewed younger. Millennials now account for approximately 21 percent of the local population, and this generation is expected to grow locally at five times the national rate, according to Fannie Mae.

Summit Walia, Managing Director of Acquisitions at LaSalle, commented: “Phoenix remains a top-performing multifamily market in the U.S. due in large part to the rapid growth and diversification of the region’s employment base, which is attracting young talent from across the country and contributing to the area’s long-term growth prospects. These factors, combined with the limited supply pipeline in Ahwatukee Foothills and the high quality and desirable location of the asset, made San Melia a uniquely compelling investment opportunity.”

Jim Garvey, Portfolio Manager for LaSalle Property Fund, commented: “This transaction represents an excellent opportunity to achieve attractive risk-adjusted total returns with an emphasis on income. This acquisition directly aligns with our investment strategy of purchasing well-located core assets that offer stable cash flows and upside potential.”

Located in the thriving, amenity-rich Ahwatukee Foothills submarket, San Melia is connected to the rest of the Phoenix metro by major thoroughfares including the I-10, Price Road and Loop 202, which offer residents ease of access to major employment centers, top-rated school districts and recreational activities. The property is adjacent to more than 2.4 million square feet of retail, dining and recreation options at the neighboring Ahwatukee Foothills Towne Center, which is anchored by AMC Theatres and Sprouts. A pedestrian walkway at the north end of the property provide residents convenient access to the retail center.

About LaSalle Property Fund

LPF invests in and manages a diversified portfolio of high quality, stabilized real estate and real estate-related assets in the industrial, multifamily, office and retail sectors in top markets across the United States. Drawing from LaSalle Investment Management, Inc.’s 35-year record of accomplishment of core real estate investment on behalf of sophisticated institutional investors, LPF aims to provide attractive risk-adjusted income returns with the potential for superior long-term capital growth through an investment process and platform that leverages LaSalle’s industry-leading market research.

About LaSalle Investment Management

LaSalle Investment Management is one of the world’s leading real estate investment managers. On a global basis, we manage approximately $77 billion of assets in private equity, debt and public real estate investments as of Q4 2021. The firm sponsors a complete range of investment vehicles including open- and closed-end funds, separate accounts and indirect investments. Our diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. For more information please visit www.lasalle.com and LinkedIn.

NOTE: This information discussed above is based on the market analysis and expectations of LaSalle and should not be relied upon by the reader as research or investment advice regarding LaSalle funds or any issuer or security in particular. The information presented herein is for illustrative and educational purposes and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy in any jurisdiction where prohibited by law or where contrary to local law or regulation. Any such offer to invest, if made, will only be made to certain qualified investors by means of a private placement memorandum or applicable offering document and in accordance with applicable laws and regulations. Past performance is not indicative of future results, nor should any statements herein be construed as a prediction or guarantee of future results.